SALARY SURVEY 2016 ROBERT WALTERS

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1 SALARY SURVEY 2016 ROBERT WALTERS

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3 Salary Survey 2016 ABOUT THE GLOBAL SALARY SURVEY Welcome to the seventeenth edition of the Robert Walters annual Global Salary Survey. First released in 2000, the survey is a comprehensive overview of global salaries and recruitment trends across the world. The Global Salary Survey is based on the analysis of the permanent, interim and contract placements made across each of our geographies and recruitment disciplines during This now covers data across 24 countries, including the UK and Ireland, Continental Europe, the Middle East, Africa, Asia, Australia and New Zealand as well as North and South America. INTRODUCTION Although global market conditions remained variable in 2015, hiring managers in a growing number of territories focused on headcount growth. In fact, recruitment levels were buoyant across several countries, including the UK, Japan, Ireland, Taiwan and Vietnam. The technologyfocused West Coast US market also saw high levels of demand, with steady hiring levels seen across the rest of North America. Australia, while still transitioning from reliance on the resource states, saw a resurgence in hiring across banking and IT. Hong Kong recruitment levels were positive overall too, and in Singapore hiring remained stable. market was affected by falling crude oil prices but improving global conditions mitigated the effects somewhat and the 2016 outlook is cautiously optimistic. SKILLS IN DEMAND Regardless of economic conditions, every market experienced a growth in demand for digital expertise, across both marketing and IT. Cloud, security and big data were key growth areas, reflecting the rising use of mobile tech in all sectors. User experience specialists, mobile engineers and software developers were also highly sought after. Risk, compliance and regulatory specialists also saw growing demand for their skills as banks and financial services firms kept pace with ongoing regulatory change. Relationship managers and sales professionals also saw a growing need for their skills as economies gained momentum. As talent shortages intensified and organisations focused on retention, we also observed rising hiring levels in the HR function. Employee engagement and compensation & benefits specialists were most sought after. Skills shortages were so acute in countries like Indonesia, Malaysia, Singapore and Vietnam that many governments promoted programmes to bring overseas professionals home, for example, TalentCorp Malaysia. SALARIES With predicted economic growth and the ongoing digitalisation of businesses driving a need for specialist talent, we expect salaries to grow further in lean operations experience were sought after as manufacturers focused on cost savings. Chinese professionals became more focused on job security and we anticipate an end to the job hopping of recent years as candidates chased ever-higher remuneration packages. Across Europe we have only seen modest salary rises in the last two years but this started to change in Countries like France started to see a shift and in 2016 we could see top talent enjoy 10-20% rises across the board in the French recruitment market EXPECTATIONS China saw more conservative hiring levels, with a predominance of replacement-based recruitment, but there were still key pockets of specialist professional hiring. Across Europe, recruitment levels in France started to increase, with growth throughout Paris and the regions outside the capital. The Dutch economy was more buoyant, with a particular rise in temporary contracts and demand for interim professionals. Spain also experienced a very positive recruitment market. However, in Brazil, market conditions remained tough as inflation rose and the cost of doing business increased. The Middle East recruitment There was continued upward pressure on salaries across the majority of territories in Naturally, skills-short areas saw the highest increases and increments of 15-20% became more commonplace. Previously, rises at this level were confined to countries where skills shortages were most acute, for example, Japan and many other Asian countries. This year, however, we saw similar rises in places like Australia for in-demand skill sets. Wage inflation slowed somewhat in China, although there were still key pockets of hiring. There was ongoing demand for internet-related talent and professionals with purchasing, planning, supplier management, R&D and With predicted economic growth and the ongoing digitalisation of businesses driving a need for specialist talent, in what is an already skills-short market, we expect salaries to grow further in GET IN TOUCH If you would like to find out more about salaries and recruitment trends in your industry, call one of our specialist consultants today. Contact details for each of our offices can be found at the back of this book.

4 CONTENTS UK COUNTRY OVERVIEW...7 LONDON Accounting & Finance Banking & Financial Services...13 Commerce & Industry...14 Investment Management Finance...15 Compliance...16 Human Resources Commerce & Industry...17 Financial Services...18 Legal Commerce & Industry...19 Financial Services...20 Company Secretary...21 Private Practice...22 Offshore...24 Marketing...25 Operations Investment Banking...27 Investment Management...29 Procurement...31 Projects, Change & Technology...32 Risk...35 Secretarial & Support...37 Taxation...38 Treasury...39 MIDLANDS Accounting & Finance...40 Banking & Financial Services...41 Human Resources...42 Information Technology...43 Legal...44 Supply Chain & Procurement...45 MILTON KEYNES Accounting & Finance...46 NORTH OF ENGLAND Accounting & Finance Commerce & Industry...47 Practice Accounting...48 Transactional Accounting...49 Banking & Financial Services...50 Human Resources...51 Information Technology...52 Manufacturing & Engineering...53 Secretarial & Support...54 Supply Chain & Procurement...55 SOUTHERN HOME COUNTIES Accounting & Finance...56 THAMES VALLEY Accounting & Finance...57 ST ALBANS Accounting & Finance...58 EUROPE BELGIUM COUNTRY OVERVIEW...59 Banking & Financial Services...63 Commerce & Industry...64 Engineering & Supply Chain...65 Interim Management...66 Contract Business Support...67 Contract Finance...68 FRANCE COUNTRY OVERVIEW...69 PARIS Accounting & Finance...75 Banking & Financial Services...76 Consulting...77 Engineering & Supply Chain...77 Human Resources...78 Information Technology...79 Insurance...80 Real Estate...80 Interim Management...81 Sales & Marketing...82 Tax & Legal...83 Private Practice...84 Contract Accounting & Finance...85 Banking & Financial Services...85 Business Support...86 Human Resources & Legal...86 Information Technology...86 Insurance...87 Real Estate...87 Supply Chain...88 LYON Accounting & Finance...89 Engineering...89 Healthcare...90 Human Resources...90 Information Technology...90 Legal...91 Sales & Marketing...91 Contract...92 GERMANY COUNTRY OVERVIEW...93 Accounting & Finance...95 Banking & Financial Services...96 Information Technology...97 Sales & Marketing...98 IRELAND COUNTRY OVERVIEW...99 Accounting & Finance Banking & Financial Services Compliance Engineering, Supply Chain & Procurement Information Technology Legal Sales & Marketing Secretarial & Business Support LUXEMBOURG COUNTRY OVERVIEW Banking & Financial Services Commerce & Industry NETHERLANDS COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Interim Management Legal Sales & Marketing Human Resources Tax & Treasury Contract Business Support Contract Finance

5 CONTENTS SPAIN COUNTRY OVERVIEW Accounting & Finance Banking & Insurance Engineering IT & Digital Sales & Marketing Tax & Legal SWITZERLAND COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Business Support Sales & Marketing AMERICAS BRAZIL COUNTRY OVERVIEW Accounting & Finance Tax & Legal Sales & Marketing USA COUNTRY OVERVIEW NEW YORK Accounting & Finance Banking Operations & Finance Information Technology Legal Compliance Risk Management & Quantitative Analytics Sales & Marketing SAN FRANCISCO Accounting, Finance & Business Operations Business Development, Marketing & Sales Product Management, Design & Analytics Software Engineering AUSTRALASIA AUSTRALIA COUNTRY OVERVIEW ADELAIDE Accounting & Finance Banking & Financial Services Information Technology Sales, Marketing & Communications Secretarial & Business Support BRISBANE Accounting & Finance Banking & Financial Services Commerce & Industry Public Sector Human Resources & Safety Information Technology Procurement, Supply Chain & Logistics Resources, Engineering & Construction Sales, Marketing & Communications Secretarial & Business Support MELBOURNE Accounting & Finance Banking & Financial Services Commerce & Industry Banking Operations Human Resources & Safety Information Technology Sales, Marketing & Communications Secretarial & Business Support PERTH Accounting & Finance Information Technology Resources, Engineering & Construction Sales, Marketing & Communications Banking & Financial Services Commerce & Industry Secretarial, Business Support & Human Resources SYDNEY Accounting & Finance Banking & Financial Services Commerce & Industry Banking Operations Human Resources & Safety Information Technology Banking & Financial Services Commerce & Industry Legal Procurement, Supply Chain & Logistics Risk Management, Compliance & Audit Sales, Marketing & Communications Banking & Financial Services Commerce & Industry Secretarial & Business Support NEW ZEALAND COUNTRY OVERVIEW AUCKLAND Accounting & Finance Banking & Financial Services Human Resources & OH&S Information Technology Legal Procurement & Supply Chain Secretarial & Business Support Sales, Marketing & Communications WELLINGTON Accounting & Finance Business Transformation Human Resources & OH&S Information Technology Legal Policy & Regulatory Secretarial & Business Support Procurement & Supply Chain Property & Facilities Management Sales, Marketing & Communications

6 CONTENTS ASIA CHINA COUNTRY OVERVIEW BEIJING Accounting & Finance Human Resources Sales SHANGHAI Accounting & Finance Human Resources Banking & Financial Services Information Technology Operations & Manufacturing Sales & Marketing Supply Chain & Quality SUZHOU Accounting & Finance Engineering Human Resources Industrial Sales & Marketing Operations & Lean Quality & EHS Supply Chain & Procurement HONG KONG COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Front Office Middle & Back Office Human Resources Information Technology Legal & Compliance Sales & Marketing Secretarial & Business Support Supply Chain & Procurement INDONESIA COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Human Resources Information Technology Legal Sales & Marketing JAPAN COUNTRY OVERVIEW TOKYO Accounting & Finance Banking & Financial Services Commerce & Industry Financial Services General Affairs & Administration Human Resources Information Technology Banking Non-Banking Commerce Online Vendor & Consulting Legal & Compliance Risk Manufacturing Sales & Marketing Supply Chain OSAKA Accounting & Finance Human Resources Information Technology Sales & Marketing Supply Chain MALAYSIA COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Front Office Middle & Back Office Human Resources Technical Healthcare Information Technology Legal & Compliance Sales & Marketing Supply Chain, Procurement & Engineering SINGAPORE COUNTRY OVERVIEW Accounting Financial Services Accounting & Product Control Compliance Front Office Operations Risk Contract Human Resources Information Technology Legal Sales & Marketing Consumer & Technical Healthcare B2B & Industrial Secretarial & Support Supply Chain & Procurement

7 CONTENTS SOUTH KOREA COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Commerce & Industry Human Resources Information Technology Sales & Marketing TAIWAN COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Information Technology Sales & Marketing THAILAND COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Human Resources Information Technology Sales & Marketing Supply Chain & Procurement VIETNAM MIDDLE EAST REGIONAL OVERVIEW Accounting & Finance Banking & Financial Services Legal Procurement & Supply Chain Sales & Marketing AFRICA SOUTH AFRICA COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Human Resources Information Technology Legal NORTH AFRICA REGIONAL OVERVIEW Salaries SUB-SAHARAN AFRICA REGIONAL OVERVIEW Salaries COUNTRY OVERVIEW Accounting & Finance Banking & Financial Services Engineering Human Resources Information Technology Sales & Marketing Supply Chain, Procurement & Logistics

8 United Kingdom London Birmingham Guildford Manchester Milton Keynes St Albans A SUBSTANTIALLY MORE CONFIDENT BUSINESS ENVIRONMENT, DRIVEN BY AN IMPROVING ECONOMY AND POLITICAL CLARITY FOLLOWING MAY S GENERAL ELECTION, CREATED A BUOYANT RECRUITMENT MARKET IN INSIGHT From the second quarter of 2015, employers across the majority of sectors began to actively search for new talent as business confidence made a strong return. With candidate supply already limited in several areas of the market, this significant increase in hiring rapidly exposed shortages across the board. Some employers struggled to respond effectively, which resulted in a number of positions remaining unfilled and existing employees workloads increasing. The switch to a more competitive hiring environment was most apparent in financial services and digital marketing. Employers in these areas were already more accustomed to the need for quick action to engage individuals with scarce skill sets. As a result, they led the way in demonstrating the value of decisive action in the search for professional talent EXPECTATIONS With shortages set to intensify in 2016, employers will increasingly require professionals with transferable skill sets as they focus on developing talent internally through training and mentoring. We also expect to see growing numbers of mid-career professionals retraining to make themselves eligible for careers in high-growth sectors. This will be particularly evident in the fast-growing digital industries, where multinationals are investing heavily in the UK to make use of British talent. Experienced professionals taking the initiative to up-skill will be particularly attractive to employers. Another key trend which we anticipate will continue in 2016 is the transfer of shared service centres to sites outside London, motivated by cost considerations as organisations bring previously offshored services back to the UK. This will serve to make the UK regions much more appealing to ambitious candidates seeking to start careers in accountancy and finance, legal administration and operations. It will also further fuel salary inflation outside London, making the capital less of an automatic choice for those seeking to establish their careers enabling hiring managers across the UK to compete more effectively for top talent. To encourage retention in an increasingly competitive market, especially amongst more junior jobseekers, we recommend that employers tailor reward packages to include flexible working conditions and clear career paths. Above all, we advise hiring managers to act quickly to ensure that positions are filled with their first-choice candidate. Otherwise, there is an added risk of losing additional team members as extreme workloads could lead other employees to resign. 7 Robert Walters Global Salary Survey 2016

9 We expect market conditions to continue improving throughout 2016 across all sectors. Financial services will also return to growth as institutions continue to adopt regulatory changes. + 20% (UKJI) Year-on-year increase in the number of jobs advertised in the UK United Kingdom KEY FINDINGS The transfer of shared service centres to sites outside London will continue in 2016, making the capital less of an automatic choice for those seeking to establish their careers GROWTH IN ADVERTISED VACANCIES NORTH WEST 21% MIDLANDS 5% LONDON 23% (UKJI) To encourage retention in an increasingly competitive jobs market, employers need to tailor rewards packages to include flexible working conditions and clear career paths. 91% (EIS) Professionals who would be open to hearing about a job opportunity even when not actively looking for work UKJI: Robert Walters UK Job Index, Q1-Q3, 2014 v EIS: Robert Walters Employee Insights Survey 2015, 602 respondents. United Kingdom 8

10 United Kingdom United Kingdom OVERVIEW ACCOUNTING & FINANCE As employer confidence grew across both commerce & industry and financial services in 2015, the demand for qualified and part-qualified accountants rose. Firms sought to actively increase headcount, with businesses often hiring for several positions at once. In commerce and industry, employers began to favour recruitment of permanent staff over short-term contractors. Despite many former contractors moving into permanent roles, employers still struggled to fill many business-critical permanent positions. Demand was highest for newly-qualified accountants and for those with up to three years experience. Businesses with a strong e-commerce or high street presence were especially active hirers, whilst industries such as oil and gas slowed their rate of hiring. Professionals capable of a commercial advisory role were also highly sought after a shift from the emphasis in recent years on technical accountants. Firms across the full financial services spectrum were keen to recruit professionals with cost management, business planning, regulation and capital management expertise. In banking and investment management, demand was highest at the newly-qualified and AVP level, particularly as firms reviewed their long-term strategic goals with an eye on succession planning and future leadership. Small and medium-sized investment management firms were successful in attracting candidates in 2015 by offering a better work-life balance and more varied work. Salaries for in-demand mid-level professionals rose across financial services and commerce firms. Employers also showed increased flexibility to attract the candidates they wanted, emphasising their career development opportunities. In a market where candidates can frequently consider several offers at once, we also saw businesses streamlining their recruitment processes and reducing hire times, in order to secure top talent. Talent shortages are likely to persist in Newly-qualified and mid-level accountants will continue to be in short supply for some time to come, across both financial services and commerce, causing employers to work harder to retain good staff. Buy-backs will become a common strategy to prevent staff attrition. In investment banking, we expect VP and director-level staff will consider changing jobs towards the middle of the year. Rising salaries in the investment management market, meanwhile, will attract qualified candidates, putting greater pressure on investment banking employers. The shift towards a consumer-driven market in the UK is likely to continue, boosting the performance of FMCG, retail, media, publishing, property and construction companies. In turn, these employers will expand their accountancy headcount in business advisory functions. Across accounting and finance, an abundance of permanent vacancies means that employers are likely to struggle to recruit contractors, with career contractors making up most of the talent pool. COMPLIANCE Pressure from domestic and international regulators ensured that demand was high for compliance professionals in Dodd Frank, MiFID II and the need to review processes and procedures for best practice all played a key role in driving employers to increase compliance headcount. Greater emphasis on the end customer required firms to embed changes into the compliance framework, ensuring that conduct specialists were popular hires, particularly at VP level. Employers were also especially keen to recruit talent for key second-line-of-defence roles in controls testing, monitoring and assurance. Salaries saw modest growth in 2015, despite growing demand in a number of areas. The largest increases were received by professionals in front office compliance advisory and regulatory advisory roles. Sustained demand over the last few years means that employers will continue to face skills shortages in As new regulatory agendas and trends emerge, compliance professionals will remain popular hires. We expect to see a return to hiring in central compliance functions, particularly across trade surveillance and control room functions, as well as continued focus on monitoring and assurance roles. With the nearshoring trend continuing, more firms will move their back and middle office functions outside London. Extensive hiring is therefore likely in Manchester, the Midlands and Edinburgh during KEY TRENDS Due to reduced hiring during the recession, employers are facing a shortage of mid-level professionals as market conditions improve. Employers are looking to expand headcount in contrast to the replacement hiring that characterised the downturn. Hiring managers have begun to broaden their recruitment criteria, focusing on transferable skills and considering professionals from other disciplines in order to fill business-critical roles. In banking and financial services, increased regulation has driven demand for specialists in compliance and legal fields. 9 Robert Walters Global Salary Survey 2016

11 HUMAN RESOURCES Throughout 2015, demand for skilled HR professionals, including permanent and contract talent, was strong. Candidate shortages at the junior and mid-levels caused hiring managers to focus on reducing time to hire. Employers were also increasingly flexible about the specific skills and experience they required, focusing instead on candidates with core transferable skills who could be trained to fill business-critical roles. Expanding financial services regulation and restructuring projects led to increased demand for specialists in reward, compensation, HR systems and HR projects, spurring salary growth in these areas. Across all industries, companies were keen to attract talent development and acquisition specialists to review internal staff development and external hiring strategies. Professionals with these sought-after skill sets could frequently consider several opportunities at once. We expect demand for HR professionals to continue rising in 2016, with employers adapting recruitment processes to consider candidates from a wider range of backgrounds. Following the 2016 round of bonus payments we also anticipate greater movement in the permanent market, with a corresponding rise in the number of contract hires to fill any skills gaps. Another notable trend will be HR s increasing prominence in shaping business strategy, with senior HR professionals taking a more active role in high-level board decisions. INFORMATION TECHNOLOGY As companies further invested in their technology infrastructure, 2015 was characterised by skills shortages across all areas of IT, which in turn triggered significant salary increases. Demand was particularly strong for Java and.net developers, and high daily rates led many to move into contracting, often to work on digital transformation projects for large companies. Counter-offers to retain staff became common, pushing salaries for permanent developers above inflation. Specialists in cloud computing, cyber security, business intelligence and big data were also highly sought after, as businesses continued to integrate these systems to create competitive advantage. A lack of entry-level recruitment during the recession meant junior to mid-level professionals were in short supply, as were senior management personnel with experience in cyber and data security. Larger firms found it hard to react quickly enough to compete for such hard-to-find IT professionals, meaning growth in the industry was fuelled by smaller, more agile businesses. Skills shortages will become increasingly acute in As a result, we anticipate that employers will become more flexible in their recruitment criteria, for example, hiring talent with transferable skills and training them within the business. As employers come to favour a DevOps structure, we also anticipate further integration of IT and operations teams. LEGAL Demand for private practice and in-house lawyers increased steadily in 2015, with market forces causing a particular emphasis on commercial, finance, corporate and real-estate specialists. Regulatory pressures in the banking and financial services sector, coupled with growing business confidence, drove increased interest in transactional and regulatory professionals. In private practice, real estate, corporate and finance lawyers continued to be particularly sought after. United Kingdom In response to increased competition for top talent, employers, especially those in private practice, became more open to changes in working culture and practices. A shortage of mid-level professionals also emerged during the year, triggering a rise in salaries for newlyqualified and two-to-four-year post-qualification lawyers. Mergers between firms also led to movement of senior lawyers, and salaries increased steadily. The skills shortages of 2015 are likely to persist into 2016, despite an increased number of training contracts. Regional law firms may have to raise salaries to compete with the recovering London market and to prevent staff turnover. United Kingdom 10

12 United Kingdom United Kingdom OVERVIEW MARKETING Many businesses in the financial services and B2B sectors sought to expand their campaign and business development teams in 2015, driving demand for skilled marketers. Hiring managers at asset management companies were particularly keen to attract digital marketers and investment content specialists capable of helping them add value to their client communications. Retail banks too increased the number of communications business partners, as well as creating new social media and digital roles. In the technology sector, rising business confidence and company growth triggered investments in marketing talent. In addition, as professional services, consultancy and other traditional firms aimed to raise their online profiles, marketers with a combination of social media and established marketing management skills were highly sought after. We expect such trends to continue throughout 2016, with steady, sustainable growth in hiring activity and a continued shortage of mid-level candidates. Where marketing professionals can demonstrate a quantifiable return on investment, salary increases may push ahead of the industry average. OPERATIONS A combination of attrition, growing confidence in the markets and ongoing regulatory reform buoyed recruitment levels for temporary and permanent operations professionals throughout In investment banking, hiring managers were particularly interested in specialists in regulatory change and projects, regulatory reporting and exotic/otc trade support. On the buy side, regulatory specialists and multi-faceted operations generalists were also in high demand. Across these functions employers were faced with a skills shortage among mid-level professionals, including senior analysts through to junior VPs in both investment banking and investment management. Demand also outstripped supply for senior professionals as there was greater movement at this level than in previous years. Investment managers were also keen to find professionals with experience in the traditionally siloed roles of fund administration, transfer agency, oversight and fund accountancy. As further regulatory change drives demand for expertise, the job market for regulatory reporting and project professionals will remain busy in Continued market confidence will drive demand for exotic/otc trade support in banking and multi-faceted operations generalists on the buy side. Salary increases of 10-15% will be available to those changing jobs, and current employers will seek to retain top talent with counter-offers and promotions. We also expect that employers will be more flexible when setting recruitment criteria, often appointing candidates with transferable skills with a view to developing their expertise internally. PROJECTS, CHANGE & TECHNOLOGY During the first half of 2015, many major financial services firms prepared for the next round of regulatory initiatives by hiring high numbers of permanent and contract change professionals. MiFID II, bank ring-fencing, FRTB and CRS were particularly high on the agenda. Greatest demand was seen for candidates with front office experience and detailed knowledge of product and trading processes. Rates of pay increased for professionals moving from middle office change positions to front office roles. Those in senior programming roles with strong track records in delivering regulatory programmes also received a small increase in compensation. This reflected the scarcity of those skills and the penalties of failure to deliver against new regulatory requirements. While demand for top talent remained strong in the second half of the year, the desire to reduce costs resulted in lower hiring elsewhere and more pressure on teams to deliver using their existing resources. In quarter three, some larger businesses made internal changes and redistributed team members to limit hiring levels. The majority of recruitment spend will continue to be on regulatory programmes as a range of new requirements are delivered over the next 24 months. Changes in the nature of each regulation will impact the kinds of expertise most in demand. As MiFID II, MAD2 and FRTB will largely be delivered in 2016, we predict high demand for candidates in these areas. RISK Regulatory pressures led to increased recruitment of risk professionals in London and the North West during The most active hiring periods were during the second and third quarters, when demand was greatest for specialists in stress testing, quantitative analytics and operations risk & controls. In credit risk, regulatory pressure caused hiring managers to seek specialists in credit-risk analytics, modelling and methodology. The most in-demand operational risk professionals were those with governance and methodologydevelopment skills, in addition to experience overseeing first line of defence and business activities. Across market risk, FRTB (Fundamental Review of the Trading Book), Volcker and BCBS (Basel Committee on Banking Supervision) regulations ensured that candidates with backgrounds in methodology, change and regulatory competencies were particularly desirable. In London and the South East, demand for professionals at AVP and associate level outstripped supply across all areas, while the North West was characterised by a shortage of senior professionals with technical expertise and leadership skills. A candidate-short market in 2016 is likely to place upward pressure on salaries, particularly in niche areas where skills are scarce. Candidates at AVP and associate level will remain in short supply and employers will need to adopt more flexible criteria when hiring for business-critical roles. 11 Robert Walters Global Salary Survey 2016

13 SECRETARIAL & SUPPORT SUPPLY CHAIN & PROCUREMENT TAXATION United Kingdom Hiring for secretarial and support staff increased in 2015 as permanent recruitment was fuelled by growing employer confidence, particularly following May s General Election. Despite increasing numbers of candidates overall, there was still a shortage of top-calibre professionals. Employers responded by streamlining their recruitment processes to secure the strongest candidates. In creative industries, where secretarial staff could traditionally be secured at lower pay, salaries rose to match the wider market rate. We saw firms continue to move their middle and back office functions to the Midlands and North West, driving support hiring within these regions. We also saw an influx of antipodean talent, as uncertainties in the Asia-Pacific region saw many support professionals relocate to Europe on one or two-year working visas. Junior and mid-level candidates were in highest demand as employers recruited primarily for team support rather than one-to-one positions. The scope of many roles expanded to include key aspects of project delivery, which in turn is raising the profile of the secretarial and support career path. We expect these trends to continue in The market is likely to remain short of candidates, causing hiring managers to become increasingly flexible in their requirements. As a result, they will focus more on transferable skills, and will aim to attract top talent by offering increased responsibility. The permanent and temporary jobs market for procurement professionals was buoyant in 2015, while a series of major change programmes, IT projects and strategy overhauls fuelled demand for interim talent. The call for junior to mid-level professionals outstripped supply in all sectors, and vendor management specialists were highly sought after by banks and other financial institutions. Many large firms reviewed their procurement policies during the year. This led a significant number of global corporates, particularly in the technology, aerospace and FMCG sectors, to redesign or create new strategic procurement roles. The North West also saw high demand for supply chain and logistics professionals. In order to fill business-critical positions employers began to adjust their recruitment criteria to acquire candidates from a more diverse pool. We expect the requirement for specialist procurement professionals to grow in 2016 as interest in generalists continues to decline. We also anticipate some growth in the number of boutique procurement consultancies and an increased emphasis among employers on ethical procurement. There is likely to be a continuing skills shortage in 2016, meaning that employers will need to take a flexible approach to filling key procurement roles. In light of this, we expect salaries to show steady, sustainable growth during the year. Positive economic factors and growing pressure from regulators drove continued demand for compliance and reporting tax professionals at all levels of seniority during The implementation of FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) regulations ensured that professionals with relevant experience were highly sought after, triggering salaries to rise. For the most part, however, salaries remained static with the exception of mid-level roles where increases of around 10% were seen. Overall, we expect a year of steady growth in 2016, with new regulations driving a focus on compliance and risk tax specialists. The need for newly-qualified tax professionals is also likely to remain high. We anticipate that salaries will continue to rise to a ceiling of around 90k at the best-paying firms for mid-level roles. Above this level we anticipate salaries remaining largely consistent. TREASURY As employers invested in improving efficiency during 2015, much of the demand for treasury professionals was driven by projects involving cash-pooling and treasury-management systems. Another key factor driving recruitment was the organic growth of treasury teams as firms enjoyed a period of business expansion. Following a lack of recruitment during the recession, junior and mid-level professionals were highly sought after throughout the year. This pushed junior-level salaries to 45-55k and to 55-70k for mid-level roles. 59% Increase in advertised marketing jobs 48% Increase in advertised legal jobs 32% Increase in advertised compliance jobs We expect investment in treasury teams to continue in Demand for mid-level professionals is also likely to remain high, while budget constraints mean that salaries at senior levels are likely to remain largely static. Biggest growth in advertised job volumes 2014 v 2015 Source: UK Job Index 2015 United Kingdom 12

14 LONDON ACCOUNTING & FINANCE BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT Financial Control/Management Reporting SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Director (8+ yrs' PQE) 110k+ 110k Vice President (5-10 yrs' PQE) k k Assistant Vice President (3-5 yrs' PQE) 65-80k 65-80k Associate (newly-qualified - 3 yrs' PQE) 55-70k 55-70k Product Control Director (8+ yrs' PQE) 115k+ 115k Vice President (5-10 yrs' PQE) k k Assistant Vice President (3-5 yrs' PQE) 65-85k 65-85k Associate (newly-qualified - 3 yrs' PQE) 55-70k 55-70k Internal Audit Director (8+ yrs' PQE) 110k+ 110k Vice President (5-10 yrs' PQE) k k Assistant Vice President (3-5 yrs' PQE) 70-90k 70-90k Associate (newly-qualified - 3 yrs' PQE) 55-70k 55-70k Project Management/Business Analysis VP (5-10 yrs' PQE)/Director (8+ yrs' PQE) k k Associate (NQ - 3 yrs' PQE)/AVP (3-5 yrs' PQE) 55-85k 58-85k Regulation Director (8+ yrs' PQE) 115k+ 115k Vice President (5-10 yrs' PQE) k k Assistant Vice President (3-5 yrs' PQE) 70-85k 70-85k Associate (newly-qualified - 3 yrs' PQE) 55-70k 55-70k Part-qualified - CIMA/ACCA/ACA Accountant 35-50k 35-50k Accounts Assistant 24-35k 24-35k Treasury - Financial Services Treasury Accountant (3-5 yrs' PQE) 55-65k 55-70k Capital Management (3-5 yrs' PQE) 55-75k 60-80k Asset Liability Management/IRRBB (3-5 yrs' PQE) 50-70k 55-75k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

15 LONDON ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Qualified CFO (FTSE 100) 500k+ 500k+ SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Finance Director (large org) 225k+ 250k Financial Controller (large org) 150k+ 160k Finance Director (small/med org) k k Head of Audit k k Financial Controller (small/med org) 70-90k 65-85k Finance Manager 60-85k 65-85k FP&A Manager 65-90k 65-90k Audit Manager 60-85k 65-85k Analyst 55-80k 55-80k Group Accountant 50-75k 50-75k Internal Auditor 50-70k 50-75k Newly-qualified ACA 45-50k 45-52k Newly-qualified CIMA 45-50k 45-52k Newly-qualified ACCA 40-50k 42-52k Part and Non-qualified ACCA Part 3/CIMA Strategic 38-45k 38-45k ACCA Part 2/CIMA Management 33-38k 34-38k ACCA Part 1/CIMA Operational 25-32k 26-32k Finance Manager 35-55k 40-60k Credit Control Manager k k Revenue/Billings Manager 35-65k 35-65k Business/Financial Analyst 35-65k 35-65k Payroll Manager 35-80k 40-80k Purchase/Sales Ledger Manager 35-45k 35-50k Purchase/Sales Ledger Assistant 23-27k 23-30k Accounts Assistant 24-32k 24-30k Credit Controller 24-35k 25-35k Payroll Officer 22-32k 22-32k Graduate 20-27k 20-27k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 United Kingdom 14

16 LONDON ACCOUNTING & FINANCE INVESTMENT MANAGEMENT FINANCE ROLE PERMANENT CONTRACT Financial Control SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) CFO/Finance Director 150k+ 150k Financial Controller k k Finance Manager 80-95k 75-90k Senior Financial Accountant 70-85k 65-75k Financial Accountant 55-65k 55-65k Management Reporting/Financial Planning & Analysis Head of Management Reporting/FP&A k k Senior Management Accountant/FP&A Manager 70-85k 70-85k Management Accountant/FP&A Analyst 55-70k 55-70k Fund Accounting Head of Fund Accounting k k Fund Accounting Manager 70-95k 75-90k Fund Accountant 55-70k 55-70k Regulatory Reporting Head of Regulatory Reporting 108k+ 110k Regulatory Reporting Manager k k Regulatory Accountant 60-80k 65-85k Internal Audit Head of Internal Audit k k Internal Audit Manager 65-85k 70-90k Internal Auditor 55-65k 55-70k Part-qualified - ACCA/CIMA ACCA Part 3/CIMA Strategic 38-50k 40-50k ACCA Part 2/CIMA Management 32-38k 34-40k ACCA Part 1/CIMA Operational 26-32k 28-34k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 15 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

17 LONDON COMPLIANCE ROLE PERMANENT CONTRACT Senior Compliance Roles SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Global Head of Compliance 250k+ 250k Regional Head of Compliance k k MLRO 165k+ 175k Central Compliance 6+ yrs' exp 100k+ 100k yrs' exp k 75-90k yrs' exp 55-75k 60-75k yrs' exp 40-55k 40-55k Trade Surveillance/Control Room 6+ yrs' exp 90k+ 100k yrs' exp 70-90k 70-95k yrs' exp 50-70k 50-70k yrs' exp 35-50k 35-50k Product Advisory 6+ yrs' exp k k yrs' exp k k yrs' exp 60-80k 60-85k Financial Crime 6+ yrs' exp 100k+ 100k yrs' exp 75-95k 75-95k yrs' exp 50-70k 50-75k yrs' exp 35-50k 35-50k Regulatory Affairs 6+ yrs' exp 100k+ 100k yrs' exp 80-95k 80-95k yrs' exp 50-75k 50-75k Monitoring/Assurance 6+ yrs' exp 110k+ 110k yrs' exp k k yrs' exp 50-75k 50-75k yrs' exp 30-45k 30-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 United Kingdom 16

18 LONDON HUMAN RESOURCES COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Generalist HR SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) HR Director k k Head of HR k k HR Business Partner k k Organisation/Change Manager k k HR Manager (10+ yrs exp) k k HR Manager (5+ yrs exp) 45-75k 45-75k HR Advisor 32-45k 35-45k HR Officer 30-40k 30-40k HR Administrator 22-35k 25-35k Compensation & Benefits Head of Compensation & Benefits k k Compensation & Benefits Manager 65-95k 65-95k Recruitment Head of Recruitment k k Recruitment Manager 50-75k 55-80k Training Training Manager 48-75k 48-75k Training Officer 28-45k 28-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 17 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

19 LONDON HUMAN RESOURCES FINANCIAL SERVICES ROLE PERMANENT CONTRACT Generalist HR Roles SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) HR Director k k Head of HR k k HR Business Partner k k HR Manager (10+ yrs exp) k k HR Manager (5+ yrs exp) 60-80k 60-80k HR Officer/Advisor 35-50k 35-50k HR Administrator/Assistant 25-38k 25-38k Compensation & Benefits Head of Compensation & Benefits k k Compensation & Benefits Manager k k Compensation & Benefits Officer/Advisor 45-60k 45-70k Recruitment Head of Recruitment k k Recruitment Manager 60-80k k Recruitment Officer/Advisor 30-45k 30-50k Training & Development Head of Training & Development k k Training & Development Manager 60-85k 60-85k Training & Development Officer/Advisor 30-45k 30-50k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 United Kingdom 18

20 LONDON LEGAL COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT IT/Telecoms/Business Services/Pharma SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) General Counsel/Legal Director 110k+ 115k yrs PQE k k yrs PQE 65-90k k yrs PQE 46-75k 50-80k Newly-qualified 45-53k 45-55k Contracts Manager 30-55k 30-60k Paralegal 24-35k 25-35k Construction/Energy/Manufacturing/Engineering General Counsel/Legal Director 115k+ 115k yrs' PQE k k yrs' PQE 65-90k k yrs' PQE 55-75k 55-80k Newly-qualified 45-55k 45-55k Contracts Manager 35-60k 30-60k Paralegal 26-40k 26-40k Media/FMCG/Retail/Leisure General Counsel/Legal Director 90k+ 100k yrs' PQE 70-95k k yrs' PQE 58-87k 62-90k yrs' PQE 45-68k 48-70k Newly-qualified 45-50k 45-50k Contracts Manager 23-34k 25-35k Paralegal 22-30k 24-32k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 19 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

21 LONDON LEGAL FINANCIAL SERVICES ROLE PERMANENT CONTRACT Investment Banking SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) yrs PQE 120k+ 120k yrs PQE k k yrs PQE k k yrs PQE k k yrs PQE k k yrs PQE 65-95k 65-95k yr PQE 50-75k 50-75k Investment Management/Private Wealth 10+ yrs PQE 120k+ 120k yrs PQE k k yrs PQE k k yrs PQE k k yrs PQE k k yrs PQE 75-90k 75-90k yr PQE 70-85k 70-85k Retail Banking & Insurance 10+ yrs PQE k k yrs PQE k k yrs PQE 70-90k 70-90k yrs PQE 60-80k 60-80k yrs PQE 55-75k 55-75k yrs PQE 50-70k 50-70k yr PQE 45-60k 45-60k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 United Kingdom 20

22 LONDON LEGAL FINANCIAL SERVICES ROLE PERMANENT CONTRACT Documentation SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) yrs PQE 120k+ 120k yrs PQE k k yrs PQE k k yrs PQE k k yrs PQE 70-90k 75-95k yrs PQE 60-80k 65-85k yr PQE 50-70k 50-75k COMPANY SECRETARY ROLE PERMANENT CONTRACT Plc SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Company Secretary k k Deputy Company Secretary k k Assistant Company Secretary 55-75k 55-80k Company Secretarial Assistant 35-45k 35-45k Ltd Company Company Secretary k k Deputy Company Secretary 70-95k k Assistant Company Secretary 45-60k 45-60k Company Secretarial Assistant 30-38k 30-40k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 21 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

23 LONDON LEGAL PRIVATE PRACTICE ROLE PERMANENT CONTRACT US Firm (New York) SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) yrs' PQE - Partner 170k+ 170k yrs' PQE k k yrs' PQE k k yrs' PQE k k yrs' PQE k k yrs' PQE k k yr PQE k k Newly-qualified k k Paralegal 35-45k 35-45k US Firm (Mid-Atlantic) 7 yrs' PQE - Partner 140k+ 140k yrs' PQE k k yrs' PQE k k yrs' PQE k k yrs' PQE k k yrs' PQE k k yr PQE 75-98k 75-98k Newly-qualified 67-92k 67-92k Paralegal 30-40k 30-40k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 15 Robert Walters Global Salary Survey 2016 United Kingdom 22

24 LONDON LEGAL PRIVATE PRACTICE ROLE PERMANENT CONTRACT City Firm SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) yrs' PQE - Partner 120k+ 120k yrs' PQE k k yrs' PQE k k yrs' PQE k k yrs' PQE k k yrs' PQE k k yr PQE 63-78k k Newly-qualified 59-68k k Paralegal 24-34k 24-34k West End Firm 7 yrs' PQE - Partner 90k+ 90k yrs' PQE 64-86k 64-86k yrs' PQE 57-80k 57-80k yrs' PQE 54-74k 54-74k yrs' PQE 49-70k 49-70k yrs' PQE 45-66k 45-66k yr PQE 40-58k 40-58k Newly-qualified 28-52k 38-52k Paralegal 20-28k 20-28k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 23 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

25 LONDON LEGAL PRIVATE PRACTICE ROLE PERMANENT CONTRACT Law Firm Compliance SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Head of Risk* k k Deputy Head/Compliance Manager 50-90k k Senior Risk* Lawyer/Analyst 47-96k k Mid Level Risk* Lawyer/Analyst 38-55k 40-60k Junior Risk* Lawyer/Analyst 22-45k 25-45k OFFSHORE NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. *Risk = General risk as well as conflict risk and AML focused roles. ROLE PERMANENT SALARY PER ANNUM Channel Islands GBP ( ) Partner k k+ 5-9 yrs' PQE k k 1-4 yrs' PQE 60-95k 63-95k Newly-qualified 53-58k 53-60k Caribbean USD ($) Partner 200k+ 220k+ 5-9 yrs' PQE k k 1-4 yrs' PQE* k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. *There is a minimum level of three years' post-qualification experience required in the Cayman Islands and there may soon be a similar requirement in the BVI. 17 Robert Walters Global Salary Survey 2016 United Kingdom 24

26 LONDON MARKETING ROLE PERMANENT SALARY PER ANNUM GBP ( ) EXECUTIVE MANAGER DIRECTOR Bid 25-45k 30-50k 50-80k 50-80k k k Brand 25-45k 30-45k 40-75k 40-75k k k Business Development 30-50k 30-55k 50-90k 50-90k k k Campaign Management 25-45k 32-45k 40-70k 45-65k k k Communications 23-45k 30-45k 40-80k 45-90k k k CRM 25-40k 32-50k 40-75k 50-80k k k Digital 35-55k 35-55k 50-80k 50-80k k k Direct Marketing 25-40k 30-40k 35-70k 35-70k k k DTP/Graphic 23-40k 25-40k 30-60k 30-60k 60-90k 60-90k Events/Roadshows 25-40k 25-40k 40-70k 45-70k k k General Marketing 25-45k 30-45k 45-80k 50-80k k k Investment Writing 35-50k 30-50k 45-80k 45-80k k k Marketing Analyst 25-40k 25-45k 40-75k 45-75k k k Marketing Strategy 35-55k 35-55k 60-90k 60-90k k k Product and Propositions 25-40k 25-45k 40-80k 45-80k k k PR/Media Relations 25-40k 25-40k 40-70k 40-70k k k RFP 35-50k 35-50k 50-85k 50-85k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 25 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

27 LONDON MARKETING ROLE CONTRACT RATE PER HOUR (PAYE) GBP ( ) EXECUTIVE MANAGER DIRECTOR Bid Brand Business Development Campaign Management Communications CRM Digital Direct Marketing DTP/Graphic Events/Roadshows General Marketing Investment Writing Marketing Analyst Marketing Strategy Product and Propositions PR/Media Relations RFP NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 19 Robert Walters Global Salary Survey 2016 United Kingdom 26

28 LONDON OPERATIONS INVESTMENT BANKING ROLE PERMANENT CONTRACT Securities Settlements & Confirmations SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) VP 80k+ 80k AVP/Associate 45-60k 50-65k Analyst 28-45k 28-50k Commodities: Settlements/Trade Support VP 80k+ 80k AVP/Associate 45-65k 45-65k Analyst 30-50k 30-50k Derivatives Settlements & Confirmations VP 80k+ 80k AVP/Associate 45-65k 45-65k Analyst 30-45k 30-50k Securities Trade Support, Client Services, Middle Office VP 85k+ 85k AVP/Associate 50-65k 50-70k Analyst 38-50k 40-50k OTC Derivatives Trade Support, Client Services, Middle Office VP 80k+ 85k AVP/Associate 48-65k 50-75k Analyst 35-50k 40-50k ETD Derivatives Trade Support, Client Services, Middle Office VP 80k+ 85k AVP/Associate 48-60k 50-65k Analyst 35-48k 35-50k OTC Clearing, Prime Brokerage & Stock Lending VP 80k+ 85k AVP/Associate 50-75k 50-75k Analyst 40-50k 40-55k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 27 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

29 LONDON OPERATIONS INVESTMENT BANKING ROLE PERMANENT CONTRACT Asset Servicing SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) VP 70k+ 75k AVP/Associate 45-60k 50-70k Analyst 28-45k 28-50k Loans Operations VP 80k+ 85k AVP/Associate 48-60k 48-60k Analyst 28-48k 28-48k Data VP 80k+ 85k AVP/Associate 50-75k 50-75k Analyst 35-50k 35-55k Collateral, Liquidity, Valuations & Margining VP 75k+ 80k AVP/Associate 50-75k 50-75k Analyst 40-50k 40-55k Operations Risk & Control VP 80k+ 85k AVP/Associate 50-85k 55-85k Analyst 40-50k 40-55k Regulatory & Client Money VP 95k+ 100k AVP/Associate 50-85k 55-90k Analyst 40-50k 40-60k Project Management/Change Management Programme Manager 150k+ 150k Project Manager 100k+ 110k Business Analyst 45-85k k PMO 45-85k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 21 Robert Walters Global Salary Survey 2016 United Kingdom 28

30 LONDON OPERATIONS INVESTMENT MANAGEMENT ROLE PERMANENT SALARY PER ANNUM GBP ( ) 0-3 YRS' EXP 3-7 YRS' EXP MANAGEMENT Head of Operations/COO 100k+ 100k+ Relationship Management 50-75k 50-75k 70-90k 75-95k Oversight 30-45k 32-47k 45-70k 45-70k 60-90k 60-90k Loans Operations 30-40k 32-45k 40-55k 40-60k 50-75k 50-80k Hedge Fund Operations 30-45k 32-47k 45-65k 45-70k 65-95k 65-95k Performance 30-50k 35-55k 50-75k 50-80k 70-95k 70-95k Transitions 30-42k 30-45k 42-60k 45-65k k k Fund Accounting (non-qualified) 28-45k 28-48k 42-58k 45-60k 60-90k 60-90k Fund Administration 30-42k 30-42k 40-55k 45-60k 50-80k 50-80k Regulatory Reporting 30-45k 30-50k 50-75k 55-80k 70-90k k CASS 30-45k 30-50k 50-70k 50-75k 70-90k k Corporate Trust 25-45k 28-50k 50-60k 60-80k 70k+ 80k+ Client Reporting 25-45k 27-48k 40-55k 45-60k 60-80k 65-85k Client Services 25-40k 25-40k 40-50k 45-55k 50-75k 55-85k Asset Pricing 28-42k 28-45k 42-55k 45-60k 55-70k 60-80k Data Management 30-45k 30-45k 45-65k 45-65k 60-85k 60-85k Corporate Actions/Dividends 30-40k 30-40k 40-55k 40-55k 55-75k 55-75k Settlements 25-38k 25-38k 35-45k 35-50k 48-70k 48-70k Securities Trade Support 28-48k 30-50k 48-60k 48-65k 60-80k 65-85k Cross-product Trade Support 30-50k 32-55k 48-60k 48-65k 65-85k 65-85k Reconciliations 25-40k 25-40k 38-45k 38-45k 48-65k 48-65k Fund Manager's Assistant 25-45k 30-50k 45-65k 45-70k Private Banking Assistant 28-35k 30-40k 35-55k 35-55k Business Analyst 30-45k 30-50k 50-75k 50-80k 80k+ 90k+ Project Manager/PMO 30-50k 30-50k 50-80k 50-80k 80k+ 90k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 29 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

31 LONDON OPERATIONS INVESTMENT MANAGEMENT ROLE CONTRACT RATE PER HOUR (PAYE) GBP ( ) 0-3 YRS' EXP 3-5 YRS' EXP 5+ YRS' EXP/MANAGEMENT Head of Operations/COO Relationship Management Oversight Loans Operations Hedge Fund Operations Performance Transitions Fund Accounting (non-qualified) Fund Administration Regulatory Reporting CASS Corporate Trust Client Reporting Client Services Asset Pricing Data Management Corporate Actions/Dividends Settlements Securities Trade Support Cross-product Trade Support Reconciliations Fund Manager's Assistant Private Banking Assistant Business Analyst Project Manager/PMO NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 23 Robert Walters Global Salary Survey 2016 United Kingdom 30

32 LONDON PROCUREMENT ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY GBP ( ) Commerce & Industry Chief Procurement Officer 150k+ 180k Regional Head/Director of Procurement k k Senior Procurement Manager k k Procurement Lead 65-90k 68-93k Category Manager 55-80k 55-85k End-to-end Procurement Manager 50-70k 50-75k Purchasing Manager 45-80k 48-80k Contracts/Vendor Manager 30-60k 35-60k Buyer 28-48k 25-48k Procurement Analyst 27-48k 25-55k Financial Services Chief Procurement Officer 130k+ 140k Regional Head/Director of Procurement k k Senior Procurement Manager k k Procurement Lead 65-95k k Category Manager 60-90k k End-to-end Procurement Manager 42-70k 50-85k Purchasing Manager 45-70k 45-70k Contracts/Vendor Manager 55-85k 55-80k Buyer 29-50k 30-52k Procurement Analyst 35-50k 35-50k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 31 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

33 LONDON PROJECTS, CHANGE & TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (LTD) GBP ( ) PMO PMO Manager/Portfolio Manager k k PMO 45-80k 45-80k PMO Analyst 35-50k 35-50k Re-engineering/Transformation/Consulting Business Architecture k k Programme Manager k k Project Manager k k Business Analyst 50-90k 50-90k Front Office Programme Manager k k Project Manager k k Business Analyst k k Finance Programme Manager k k Project Manager k k Business Analyst 45-90k 45-90k Operations Programme Manager k k Project Manager k k Business Analyst 40-75k 40-75k Risk & Controls Programme Manager k k Project Manager k k Business Analyst k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 25 Robert Walters Global Salary Survey 2016 United Kingdom 32

34 LONDON PROJECTS, CHANGE & TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (LTD) GBP ( ) Compliance Programme Manager k k Project Manager k k Business Analyst k k Investment Management Programme Manager k k Project Manager 65-95k 65-95k Business Analyst 50-80k 50-80k Wealth Management/Private Banking Programme Manager k k Project Manager 65-95k 65-95k Business Analyst 50-80k 50-80k Reference Data Programme Manager k k Project Manager k k Business Analyst 35-75k 35-75k Regulatory Programme Manager k k Project Manager k k Business Analyst k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 33 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

35 LONDON PROJECTS, CHANGE & TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (LTD) GBP ( ) Financial Services Technology Programme Manager k k Project Manager k k Business Analyst k k Test/QA Manager 60-80k 60-80k Test Analyst 45-60k 45-60k Order Management Project Manager k k Order Management Business Analyst 70-90k 70-90k Order Management Support 50-65k 50-65k Data Analytics Head of Data Analytics (10+ yrs' exp) k k Head of Data Analytics (5-10 yrs' exp) k k Data Scientist (5-10 yrs' exp) k k Data Scientist (1-5 yrs' exp) 40-60k 45-70k Data Analyst (5-10 yrs' exp) 40-60k 40-60k Data Analyst (1-5 yrs' exp) 28-50k 32-50k Big Data Engineer (5-10 yrs' exp) 50-80k 50-80k Big Data Engineer (1-5 yrs' exp) 40-50k 40-50k BI Consultant (5-10 yrs' exp) 40-60k 40-60k BI Consultant (1-5 yrs' exp) 30-50k 30-50k Statistical Modeller (5-10 yrs' exp) 40-65k 45-70k Statistical Modeller (1-5 yrs' exp) 32-50k 34-50k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 27 Robert Walters Global Salary Survey 2016 United Kingdom 34

36 LONDON RISK ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Market Risk Management 10+ yrs' exp k k yrs' exp k k yrs' exp 60-75k 60-80k yrs' exp 45-70k 45-70k yrs' exp 30-50k 30-45k Market Risk Reporting 10+ yrs' exp k k yrs' exp 70-85k 70-90k yrs' exp 50-70k 55-70k yrs' exp 40-55k 40-55k yrs' exp 30-40k 30-40k Credit Analysis 10+ yrs' exp k k yrs' exp 70-90k 75-95k yrs' exp 55-75k 60-80k yrs' exp 45-55k 45-60k yrs' exp 30-40k 30-40k Credit Risk Reporting 10+ yrs' exp k k yrs' exp 70-85k 75-90k yrs' exp 50-70k 50-75k yrs' exp 40-55k 40-55k yrs' exp 30-40k 30-40k Credit Risk Modelling/Stress Testing 10+ yrs' exp k k yrs' exp k k yrs' exp 55-75k 70-85k yrs' exp 45-60k 50-70k yrs' exp 30-45k 30-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 35 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

37 LONDON RISK ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Quantitative Analysis 10+ yrs' exp k k yrs' exp k k yrs' exp 65-85k 70-95k yrs' exp 50-70k 50-75k yrs' exp 30-50k 30-50k Performance & Investment Risk Analysis 10+ yrs' exp k k yrs' exp k k yrs' exp 60-80k 60-80k yrs' exp 45-60k 50-60k yrs' exp 30-45k 30-50k Operational Risk 10+ yrs' exp k k yrs' exp 70-90k k yrs' exp 60-75k 65-80k yrs' exp 45-60k 45-65k yrs' exp 30-45k 30-45k Business Analysts/Project Managers 10+ yrs' exp k k yrs' exp k k yrs' exp 60-80k 60-80k yrs' exp 45-65k 45-65k yrs' exp 30-45k 30-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 29 Robert Walters Global Salary Survey 2016 United Kingdom 36

38 LONDON SECRETARIAL & SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Commerce & Industry Office Manager 35-45k 35-45k Executive Assistant 38-48k 40-50k Personal Assistant 32-40k 35-45k Team Secretary 25-32k 28-35k Senior Administrator 25-28k 25-30k Bilingual Secretary 28-35k 28-35k Project Co-ordinator 28-35k 28-35k Senior Receptionist 26-32k 26-32k Junior Secretary 23-26k 23-26k Junior Administrator 20-24k 20-25k Data Entry Operator 18-23k 18-23k Junior Receptionist 23-26k 23-26k Financial Services Office Manager 38-50k 38-50k Executive Assistant 45-50k 45-50k Personal Assistant 35-45k 35-45k Team Secretary 28-35k 28-35k Senior Administrator 25-35k 25-35k Trading Floor Secretary 35-45k 35-45k Bilingual Secretary 32-42k 35-45k Project Co-ordinator 30-40k 30-40k Senior Receptionist 28-35k 28-35k Junior Secretary 24-28k 28-32k Junior Administrator 18-26k 20-26k Junior Receptionist 18-26k 20-26k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 37 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

39 LONDON TAXATION ROLE PERMANENT SALARY PER ANNUM GBP ( ) FTSE 100 Head of Tax k k Group Tax Manager/Senior Manager k k International Tax Manager k k UK Tax Manager 60-85k 55-75k Tax Accountant 45-60k 45-60k Mid-cap/Non-listed Head of Tax k k Group Tax Manager/Senior Manager k 75-90k International Tax Manager 65-90k 65-80k UK Tax Manager 55-75k 55-75k Tax Accountant 40-50k 40-55k Financial Services Head of Tax k k Group Tax Manager/Senior Manager k k International Tax Manager k k UK Tax Manager 65-85k 70-90k Tax Accountant 45-60k 45-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 31 Robert Walters Global Salary Survey 2016 United Kingdom 38

40 LONDON TREASURY COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Senior Treasury SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Group Treasurer - FTSE k+ 150k Group Treasurer - FTSE k+ 125k Treasurer 95k+ 95k Assistant Treasurer - FTSE k+ 125k Assistant Treasurer - FTSE k+ 100k Treasury Manager 3+ yrs' exp 75-80k 75-80k yrs' exp 60-65k 60-65k Treasury Analyst 3+ yrs' exp 55k+ 55k yrs' exp 45k+ 45k Treasury Accountant/Controller 5+ yrs' exp 70k+ 70k yrs' exp 55-70k 55-70k yrs' exp 45-55k 45-55k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 39 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

41 MIDLANDS ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Qualified Finance Director k k Financial Controller 45-80k 50-80k Finance Manager 40-60k 45-60k Head of Audit 60k+ 60k Financial Accountant 30-50k 30-50k Project Accountant 30-60k 30-60k Management Accountant 30-50k 30-50k Systems Accountant 25-50k 25-50k Financial Analyst 25-50k 25-50k Part-qualified & Transactional Services CIMA/ACCA/AAT Strategic/Part k 25-32k Management/Part k 22-30k Operational Level/Part k 18-24k AAT 18-22k 18-22k Manager Credit Control 35-80k 35-80k Accounts Payable 30-60k 30-60k Accounts Receivable 30-50k 30-50k Payroll 30-60k 30-70k Team Leader/Supervisor Credit Control 28-35k 28-35k Accounts Receivable 25-35k 25-35k Accounts Payable 25-35k 25-35k Payroll 25-35k 25-35k Clerks Credit Control 18-24k 18-24k Accounts Payable 18-23k 18-23k Accounts Receivable 17-22k 17-22k Payroll 18-24k 18-24k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 33 Robert Walters Global Salary Survey 2016 United Kingdom 40

42 MIDLANDS BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM GBP ( ) 0-3 YRS' EXP 3-5 YRS' EXP 6+ YRS' EXP Operations/Back Office Operations Manager 40-50k 40-50k 50-65k 50-65k 70k+ 70k+ Fraud 18-38k 18-38k 35-50k 35-50k 50k+ 50k+ Client Services 18-25k 18-25k 25-32k 25-32k 32-40k 32-40k Trade Support 18-23k 18-23k 23-30k 23-30k 30-40k 30-40k Paraplanner 25-30k 28-32k 30-35k 33-38k 40k+ 40k+ Compliance Compliance Advisory 20-27k 25-30k 30-37k 30-40k 45k+ 50k+ Compliance Monitoring 18-25k 20-27k 27-35k 30-35k 40k+ 45k+ Middle & Front Office Investment Manager 30-35k 30-35k 30-45k 30-45k 60k+ 60k+ Credit Risk 25-35k 25-35k 35-45k 35-45k 60k+ 60k+ Regulatory Risk 27-32k 27-32k 35-45k 35-45k 50k+ 50k+ Operational Risk 27-32k 27-32k 35-45k 35-45k 45k+ 45k+ Anti-Money-Laundering 22-26k 25-26k 25-35k 28-40k 40k+ 45k+ Business Development 22-27k 25-35k 30-45k 30-45k 50k+ 55k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 41 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

43 MIDLANDS HUMAN RESOURCES ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY GBP ( ) HR Director k k Head of Human Resources 80-95k 65-90k Head of Reward, Compensation & Benefits k k Organisational Development Consultant 70-85k 60-85k Head of Learning & Development 80-95k 65-90k Head of Recruitment 65-90k 55-80k Senior HR Business Partner 70-90k 55-85k HR Business Partner 40-55k 40-60k HR Manager 50-60k 40-55k Compensation & Benefits Manager 45-60k 50-65k Compensation & Benefits Analyst 35-45k 30-45k Reward Advisor 26-38k 30-40k Recruitment Manager 40-60k 40-55k Graduate Recruiter 20-35k 20-35k Training Manager 40-55k 35-50k Training Officer 25-35k 24-30k Employee Relations Advisor 26-36k 28-40k Global Mobility Specialist 45-60k 40-55k HR Advisor 26-35k 26-35k HR Officer 20-30k 22-30k HR Administrator 16-20k 15-22k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 35 Robert Walters Global Salary Survey 2016 United Kingdom 42

44 MIDLANDS INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Development Development Manager 55-80k 55-80k C#/ASP.Net Developer/VB.Net Developer 33-60k 35-65k Software Architect 55-70k 60-80k Java/J2EE Developer 40-60k 40-65k Mobile Developer 33-50k 35-60k BI Senior/Analyst/Developer 30-65k 35-70k Web Developer/Open Source/PHP Developer 25-45k 30-50k Senior Appointments Head of IT/IT Director/CIO/Chief Data Officer k k Service Delivery Manager/Director 50-85k 50-85k Business Process Change Manager/Business Analyst 50-65k 50-65k PMO/Project Manager/Programme Manager 45-65k 45-80k Infrastructure Enterprise/Solutions Cloud Architect 80-95k k Technical Architect 60-85k 70-90k Tech Services - Infrastructure Manager 50-75k 50-75k Systems Administrator 35-45k 35-45k Infrastructure Analyst 30-38k 30-38k Field Support Engineer/Helpdesk/Service Desk Support 25-38k 25-38k Testing Test Manager 45-60k 45-65k Test Analyst 28-38k 28-38k Digital Chief Digital Officer k k UX/UI Architect/Design k k Security CISO k k Head of Cyber Security k k Security Analyst 35-50k 40-60k Security Support 30-45k 35-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 43 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

45 MIDLANDS LEGAL ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Private Practice 9+ yrs' PQE 67k+ 70k yrs' PQE 47-75k 49-76k yrs' PQE 46-69k 47-69k yrs' PQE 44-65k 46-65k yrs' PQE 40-55k 41-56k yrs' PQE 37-48k 38-48k yrs' PQE 35-45k 35-46k yr PQE 32-42k 33-44k Newly-qualified k 30-41k Paralegal/Contract Manager 18-53k 18-55k In-house 9+ yrs' PQE 75k+ 80k yrs' PQE 65-95k 70-95k yrs' PQE 54-85k 54-85k yrs' PQE 50-68k 50-68k yrs' PQE 45-61k 47-64k yrs' PQE 42-56k 45-58k yrs' PQE 40-53k 40-53k yr PQE 32-48k 32-50k Newly-qualified 30-42k 30-42k Paralegal/Contract Manager 22-56k 23-57k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 37 Robert Walters Global Salary Survey 2016 United Kingdom 44

46 MIDLANDS SUPPLY CHAIN & PROCUREMENT ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Procurement Chief Procurement Officer k k Commercial Director k k Procurement Director k k Head of Procurement k k Commercial Manager 50-70k 50-70k Procurement Manager 50-65k 50-70k Direct Purchasing Manager 45-75k 45-75k Category Manager 40-55k 40-55k Senior Buyer 38-45k 38-50k Buyer 28-40k 28-40k Supply Chain Supply Chain Director k k Logistics Director k k Head of Supply Chain 55-95k 60-95k General Manager k k Supply Chain Manager 40-85k 45-85k Logistics Manager 45-70k 45-75k Warehouse Manager 40-60k 40-60k Demand Planning Manager 40-60k 40-60k Planner 30-45k 30-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 45 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

47 MILTON KEYNES ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Qualified Finance Director k k Head of Audit 70-90k 70-90k Group Reporting Manager 65-85k 65-85k FP&A Manager 65-85k 65-85k Financial Controller 60-95k 60-95k Internal Audit Manager 50-60k 50-60k Financial/Business Analyst 45-55k 45-55k Finance Manager 45-60k 45-60k Financial Accountant 45-60k 45-60k Management Accountant 45-60k 45-60k Internal Auditor 40-55k 40-55k Newly-qualified (ACA, CIMA, ACCA) 35-45k 40-45k Part-qualified CIMA Passed Finalist 35-42k 35-42k CIMA Strategic 25-40k 30-40k CIMA Management 20-30k 25-33k CIMA Operational 20-25k 20-28k ACCA Part k 30-42k ACCA Part k 28-33k ACCA Part k 20-28k Credit Control Manager 30-45k 30-45k Accounts Payable Manager 28-40k 30-45k Accounts Payable/Receivable Clerk 18-25k 19-25k Payroll Manager 25-40k 30-45k Credit Controller 18-25k 19-25k Payroll Clerk 19-25k 19-26k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 39 Robert Walters Global Salary Survey 2016 United Kingdom 46

48 NORTH OF ENGLAND ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Group Finance Director k k Finance Director k k Group Financial Controller k k Financial Controller 55-75k 55-80k Head of Audit k k Head of FP&A 50-68k 60-80k Internal Audit/Risk 30-60k 35-70k Systems Accountant 30-50k 35-55k Finance Manager 40-55k 45-60k Project Accountant 30-50k 35-60k Financial Accountant 30-50k 35-50k Management Accountant 30-40k 35-45k Financial Analyst 25-50k 35-50k Financial Planning Analyst 35-55k 35-55k In-house Tax Corporate k k Indirect/VAT k k Treasury Head of Treasury/Treasury Manager 45-65k 50-70k Group Treasurer k k Assistant Group Treasurer 60-90k 60-90k Treasury Analyst 25-40k 25-40k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 47 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

49 NORTH OF ENGLAND ACCOUNTING & FINANCE PRACTICE ACCOUNTING ROLE PERMANENT SALARY PER ANNUM GBP ( ) Audit Senior Manager 46-75k 50-80k Manager 38-50k 42-55k Assistant Manager 33-38k 35-45k Senior 28-36k 28-38k Tax Senior Manager 50-75k 50-80k Manager 40-50k 40-50k Assistant Manager 35-42k 30-45k Senior 30-39k 25-35k Corporate Finance Director k k Senior Manager 55-80k 60-85k Manager 41-55k 45-60k Executive 33-42k 38-45k Other Transaction Services k k Private Equity/Investment k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 41 Robert Walters Global Salary Survey 2016 United Kingdom 48

50 NORTH OF ENGLAND ACCOUNTING & FINANCE TRANSACTIONAL ACCOUNTING ROLE PERMANENT CONTRACT Transactional Services SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Payroll Manager 37-52k 37-52k Transactional Processing Manager 40-70k 45-80k Credit Control Manager 35-65k 35-65k Accounts Payable Manager 35-55k 35-55k Credit Control Supervisor 26-35k 28-38k Payroll Supervisor 28-35k 28-38k Accounts Receivable Manager 35-55k 28-38k Accounts Payable Supervisor 25-35k 28-38k Accounts Receivable Supervisor 25-35k 28-38k Credit Control Clerk 20-26k 22-28k Accounts Payable Clerk 18-25k 20-25k Accounts Assistant 18-25k 20-26k Payroll Clerk 20-28k 22-30k Accounts Receivable Clerk 18-25k 20-26k CIMA/ACCA Strategic/Part k 26-35k Managerial/Part k 24-30k Certificate/Part k 21-28k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 49 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

51 NORTH OF ENGLAND BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM GBP ( ) 0-3 YRS' EXP 3-5 YRS' EXP 6+ YRS' EXP Operations/Back Office Operations Manager 40-50k 40-50k 50-65k 50-65k 70k+ 70k+ Collections 28-35k 28-35k 35-45k 35-45k 50-65k 50-65k Fraud 18-38k 18-38k 35-50k 35-60k 50k+ 60k+ Corporate Actions 21-26k 21-26k 27-35k 27-35k 40-50k 40-50k Settlements 18-25k 18-25k 25-32k 25-32k 35-45k 35-45k Cash Management 20-25k 20-25k 25-32k 25-32k 35-45k 35-45k Client Services 18-25k 18-25k 25-32k 25-32k 32-40k 32-40k Transfers 18-23k 18-23k 23-27k 23-27k 30-40k 30-40k Trade Support 18-23k 18-23k 23-30k 23-30k 30-40k 30-40k Paraplanner 25-30k 25-30k 30-35k 30-35k 35k+ 35k+ Reconciliations 18-22k 18-22k 20-26k 20-26k 30k+ 35k+ Compliance Compliance Advisory 20-27k 20-27k 30-37k 30-37k 45k+ 50k+ Compliance Monitoring 18-25k 18-25k 27-35k 27-35k 40k+ 45k+ Middle & Front Office Asset and Liability Management 25-35k 25-35k 30-45k 30-45k 60k+ 60k+ Investment Manager 30-35k 30-35k 40-45k 40-45k 50k+ 50k+ Credit Risk 25-35k 25-35k 35-45k 35-45k 60k+ 60k+ Business Development 25-35k 25-35k 30-45k 30-45k 50k+ 50k+ Regulatory Risk 27-32k 27-32k 35-45k 35-45k 50k+ 50k+ Market Risk 25-35k 25-35k 35-45k 35-45k 50k+ 50k+ Research Analyst 22-30k 22-30k 35-45k 35-45k 50k+ 50k+ Operational Risk 27-32k 27-32k 35-45k 35-45k 45k+ 45k+ Investment Assistant 22-27k 22-27k 25-32k 25-32k 35k+ 35k+ Anti-Money-Laundering 22-26k 22-26k 25-35k 25-35k 40k+ 40k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 43 Robert Walters Global Salary Survey 2016 United Kingdom 50

52 NORTH OF ENGLAND HUMAN RESOURCES ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY GBP ( ) HR Director k k Head of HR k k Head of Reward, Compensation & Benefits 50-80k k Head of Organisational Development 60-90k k Head of Learning & Development 60-90k k Head of Talent/Recruitment 40-80k 45-85k Senior HR Business Partner 60-70k 60-75k HR Business Partner 45-60k 45-60k HR Manager 40-60k 40-60k Recruitment Manager 30-50k 35-55k Learning & Development Manager 30-50k 30-55k HR/Reward Analyst 30-45k 30-50k Global Mobility Specialist 30-50k 30-50k HR Advisor 28-40k 30-40k Employee Relations Advisor 25-35k 25-35k Recruitment Advisor 24-35k 25-35k Learning & Development Advisor 20-35k 25-35k HR Officer 22-30k 22-32k HR Administrator 18-25k 18-25k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 51 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

53 NORTH OF ENGLAND INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) CIO/CTO k k IT Director k k IT Manager/Head of IT k k Head of Digital k k Head of Architecture k k Enterprise/Solutions Architect 60-80k 65-90k Programme Manager/Director k k Project Manager/Snr Project Manager 45-70k 55-70k PMO Manager/Lead 50-70k 55-70k Development Manager/Head of Development 60-90k 65-90k Service Delivery Manager/Head of Service Delivery 55-80k 55-85k Infrastructure Manager/Head of Infrastructure k k BI Consultant/Architect 45-75k 45-75k BI Developer 35-50k 35-50k Java/J2EE Developer/Senior 45-55k 45-55k C#/ASP.Net Developer 40-55k 45-60k Mobile, Android and ios Developer 40-55k 40-60k Test Manager 50-70k 52-70k Information Security Consultant/Manager 55-70k 55-70k Business Analyst 35-55k 35-55k PMO Analyst 30-40k 35-40k Test Analyst 28-40k 28-40k st/2nd Line Infrastructure Support 18-24k 18-24k rd Line Infrastructure Wintel 35-45k 35-45k rd Line Infrastructure CISCO 35-45k 40-55k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 45 Robert Walters Global Salary Survey 2016 United Kingdom 52

54 NORTH OF ENGLAND MANUFACTURING & ENGINEERING ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY GBP ( ) Operations Director k k Factory/Plant Manager 45-90k 45-95k Engineering Manager 40-70k 40-75k Health and Safety Manager 35-50k 35-52k Production Manager 40-65k 40-70k CI Manager 35-55k 40-60k Quality Manager 35-50k 35-55k Process Engineer 25-40k 25-45k Manufacturing Engineer 25-35k 25-37k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 53 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

55 NORTH OF ENGLAND SECRETARIAL & SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Executive Assistant 25-37k 25-40k Personal Assistant 22-30k 22-30k Office Manager 23-35k 25-35k Senior Project Co-ordinator 25-35k 25-35k Project Co-ordinator 18-28k 18-28k Senior Admin Assistant 18-25k 18-25k Receptionist 16-20k 16-21k Admin Assistant 15-22k 15-22k Junior Admin Assistant 14-16k 14-16k Data Entry Operator 15-19k 15-19k Legal Secretary k k Secretary 18-25k 18-25k Audio Typist 17-19k 17-19k Medical Secretary 17-24k 17-24k Customer Service Assistant 15-18k k HR Administrator 16-18k 17-20k Recruitment Administrator 16-18k 17-20k Team Secretary 18-20k 19-21k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 47 Robert Walters Global Salary Survey 2016 United Kingdom 54

56 NORTH OF ENGLAND SUPPLY CHAIN & PROCUREMENT ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY GBP ( ) Procurement Procurement Director k k Procurement/Category Manager 50-75k 45-75k Supplier Relationship Manager 60-80k 60-80k Buying Manager 50-80k 50-80k Senior Buyer 35-45k 40-50k Buyer/Junior Buyer 25-40k 25-45k Supply Chain Supply Chain Director k k Supply Chain Manager 55-85k 55-85k Demand Planning Manager 50-75k 55-80k Supply Planning Manager 45-70k 50-70k Planner 25-35k 28-38k Logistics Logistics Director k k Operations Director k k General Manager 75-95k 75-95k Transport Manager 50-65k 55-70k Logistics Manager 50-80k 50-80k Warehouse Manager 45-65k 45-65k Operations Manager 45-55k 45-55k Distribution Manager 55-65k 55-65k Shift Manager 35-50k 35-50k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 55 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

57 SOUTHERN HOME COUNTIES ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Qualified Finance Director k k Financial Controller 60-90k 60-90k Head of Audit k k Group Reporting Manager 60-80k 60-80k FP&A Manager 60-80k 60-80k Internal Audit Manager 55-75k 55-75k Financial/Business Analyst 50-65k 50-65k Finance Business Partner 50-75k 50-75k Finance Manager 50-70k 50-70k Financial Accountant 50-60k 50-60k Internal Auditor 45-65k 45-65k Newly-qualified (ACA, CIMA, ACCA) 45-55k 45-55k Part-qualified CIMA Passed Finalist 42-45k 42-45k CIMA Strategic Level 37-42k 37-45k CIMA Managerial Level 32-35k 32-35k CIMA Certificate Level 22-28k 22-28k ACCA Finalist/Passed Finalist 35-42k 37-45k ACCA Professional Level 28-35k 28-35k ACCA Fundamental Level 22-25k 22-25k Transactional Accounting Finance Operations Manager 40-60k 40-65k Credit Control Manager 40-60k 40-60k Payroll Manager 35-55k 35-55k Accounts Payable Manager 30-50k 30-50k Accounts Receivable Manager 30-50k 30-50k Credit Control Clerk 18-25k 20-25k Accounts Assistant 18-28k 22-28k Payroll Clerk 18-26k 18-28k Accounts Payable/Receivable Clerk 18-25k 20-26k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 49 Robert Walters Global Salary Survey 2016 United Kingdom 56

58 THAMES VALLEY ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER DAY (PAYE) GBP ( ) Qualified Finance Director (CFO) k k Head of Audit k k Group Reporting Manager 60-90k 60-90k FP&A Manager 65-85k 65-85k Financial Controller k k Financial/Business Analyst 50-65k 50-75k Finance Manager 50-70k 50-70k Financial Accountant 50-60k 50-65k Internal Auditor 50-75k 50-75k Management Accountant 45-60k 45-60k Newly-qualified (ACA) 45-50k 45-50k Newly-qualified (CIMA/ACCA) 40-50k 45-50k Part-qualified CIMA Strategic/ACCA Part k 35-45k CIMA Managerial/ACCA Part k 28-35k CIMA Certificate/ACCA Part k 22-28k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 57 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

59 ST ALBANS ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM GBP ( ) RATE PER HOUR (PAYE) GBP ( ) Qualified Finance Director k k Financial Controller 60-80k 60-75k Group Reporting Manager 55-75k 50-65k FP&A Manager 55-75k 50-65k Financial/Business Analyst 45-55k 40-50k Systems Accountant 50-60k 50-60k Finance Manager 50-65k 55-65k Financial Accountant 45-55k 45-55k Management Accountant 45-55k 40-50k Newly-qualified (ACA, CIMA, ACCA) 40-45k 42-48k Part-qualified CIMA Passed Finalist 35-40k 35-40k CIMA Strategic 35-40k 35-40k CIMA Managerial 25-35k 25-32k CIMA Certificate 20-30k 20-30k ACCA Part k 30-40k ACCA Part k 25-35k ACCA Part k 20-30k Systems Accountant 30-50k 30-50k Credit Control Manager 30-45k 30-45k Accounts Payable/Receivable 18-25k 18-23k Payroll/Billings Supervisor 25-45k 25-40k Credit Controller 18-25k 20-25k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 51 Robert Walters Global Salary Survey 2016 United Kingdom 58

60 Belgium Brussels Brussels North Ghent Zaventem DESPITE A SLOW START TO 2015, HIRING LEVELS INCREASED MARKEDLY AS THE YEAR PROGRESSED WITH AN OVERALL POSITIVE OUTLOOK FOR MANY SPECIALIST PROFESSIONALS INSIGHT Both permanent and temporary hiring was slow as the year started. However, the market picked up rapidly by the end of quarter two, and increasing confidence in the market was reflected in new projects and opportunities. Across the permanent recruitment market, controller positions were in demand across a strengthening financial services sector. Many opportunities for risk and compliance specialists opened up in the banking sector, as did new front office roles. Among SMEs, many permanent roles that were previously outsourced, such as tax specialists, were brought in-house, reflecting a growing confidence in the future. However, there was a chronic shortage of engineers as very little new talent entered the market. There was plenty of activity in the interim management market too, with requirements for a wide variety of roles, including general management, supply chain, logistics and project management. The majority of interim 59 Robert Walters Global Salary Survey 2016 management assignments were linked to process optimisation projects in lean structured organisations that lacked a specific competence. There was also particular demand for finance, ERP and HR specialists in the interim management market as a whole. Recruitment within the temporary market benefited from new employment legislation that effectively meant the end of probation periods, and more temporary-to-permanent roles were filled as a result. There were new projects and new headcount budget available, with highest demand for both marketing and HR professionals, which had all but disappeared from the market in previous years. Some trends continued: temporary accounting assistants with two to five years experience were still hard to find EXPECTATIONS As confidence in the economy grows in 2016, people will increasingly begin to move roles, attracted by a better salary or the prospect of working closer to home. The war for talent will intensify, and top professionals will have multiple offers to choose from, particularly in finance and accounting. Employers will need to be highly aware of this situation and should move fast to communicate compelling offers to the best candidates. There will be some expectations that will be hard for candidates to meet, particularly ones that combine technical and soft skills, for example, accountants that are required to be very communicative and client-orientated. Competition amongst hiring managers will be very high for professionals with these skill sets as a result. Temp rates in Brussels will remain stable, with slight increases anticipated in some areas. Interim management fees will also be stable. In-demand skill sets will command higher salaries, for example, risk and compliance specialists in banking and mid-level managers in engineering. Across commercial firms we expect small increments, with a greater focus on extra legal benefits. Although salary levels will largely remain stable, employers must think hard about offering rises in 2016 as competition for talent increases. However, salaries are only part of the picture. Hiring managers able to shape their prevailing culture to jobseeker needs, for example, facilitating an ideal candidate who wants a part time role, will help to secure the top talent over the competition. Overall, flexibility, childcare facilities, greater holiday entitlement and training opportunities will also make a big difference to the attractiveness of the package on offer.

61 The war for talent will intensify in 2016 and top professionals will have multiple offers to choose from, particularly in finance and accounting. + 5% (EJI) Year-on-year increase in the number of jobs advertised in Belgium Belgian professionals who would consider moving abroad for better career opportunities Belgian professionals who say they are confident about their overall career progression Belgium KEY FINDINGS 33% (EIS) 79% (EIS) Candidate confidence has returned and professionals are more willing to take a risk and change jobs. Although salary levels will largely remain stable, employers must think hard about offering rises in 2016 as competition for talent increases. Employers will need to move fast in order to secure the best professionals. + 27% (EJI) Year-on-year increase in advertised roles in supply chain and logistics + 20% (EJI) Year-on-year increase in advertised roles in engineering (EIS) CAREER PROGRESSION Number one reason why employees will be looking to change roles EJI: Robert Walters European Job Index, Q v Q EIS: Robert Walters Employee Insight Survey 2015, 7,000 professionals surveyed. Belgium 60

62 Belgium Belgium OVERVIEW BANKING & FINANCIAL SERVICES A more tightly-regulated climate than ever before defined the permanent recruitment market. Banks continued to face heightened regulatory pressure, particularly around the avoidance of too many loans on the balance sheet. This meant audit, compliance professionals and risk managers were in demand. Insurance companies spent much of the year finishing their preparations for meeting the Solvency II deadline in January 2016, so compliance professionals were very much essential hires in this area too. Banking institutions faced a number of challenges including widespread digitalisation, attempting to gain market share in competitive markets and improving the cost-to-income ratio. As a result, ICT-experienced candidates and business developers were popular with permanent employers, and this trend will continue in In temporary recruitment, hiring by banks focused largely on junior and middle management profiles. A large part of the entire recruitment activity in the Brussels area comprised jobs in banking: back office roles such as fund accountants, client reporting analysts, reconciliation officers, AML (antimoney-laundering) and KYC (know your customer) analysts were particularly in demand. Salaries for temporary roles increased slightly in 2015, but any increase in 2016 will be minimal. However, in the East Flanders and Flemish Brabant areas the temporary market is short of skilled candidates employers will need to offer higher salaries or risk candidates being bought back by their current employer. As 2016 progresses, the banking sector will evolve further mergers are on their way in private and retail banking, which will mean fewer support roles are needed in the sector. Continuing 2015 s trend, family offices and holdings will be very keen to increase their investment staff, recruiting equity and private equity investment analysts. While salaries in 2015 remained relatively stable, 2016 is likely to see a rise in salaries for key professionals, particularly risk and compliance candidates who are in a strong position to negotiate higher salaries because of the shortage of specialists in this area. BUSINESS SUPPORT Whilst the majority of businesses continued to allocate budget to hire business support candidates during 2015, employers were still cautious and activity was slow at the beginning of the year. Recruitment was mainly focused on essential profiles such as trilingual management assistants and customer service professionals. However, the market picked up in April, with particular demand for short-term temporary and contract roles and sickness and holiday replacements. There was also increased activity among international businesses looking to recruit talent in Belgium. In a positive sign for the market, businesses were once again investing in their marketing and communications functions and there was a corresponding increase in demand for support staff with these backgrounds. Businesses were also looking to bolster their HR teams with recruitment specialists as they started to plan headcount growth in the second half of the year. We expect these trends to continue in Encouragingly, we also noted a rise in requirements for candidates with customer service experience, both north of Brussels and in Zaventem. Candidates for these roles with corresponding technical and language skills were highly sought after, as were professionals with ERP knowledge. With growing talent shortages we recommend that in 2016 employers focus less on candidates sector or industry background and much more on their core skills and motivation. Hiring managers who focus on transferable skills will have a bigger pool of talent to choose from. Remuneration trends in 2016 will vary according to role and sector, and we anticipate that many employers will struggle to match candidates expectations. The pharmaceutical, financial, energy and legal sectors will continue to pay well, but the retail sector and SMEs in general, will find it more difficult to offer a very competitive salary. To secure the best, employers should also consider broader incentives such as flexible hours, home working, training opportunities and public transport budget, as well as bonuses. COMMERCE & INDUSTRY There was greater confidence to hire in 2015, with strong growth particularly noted across small to medium-sized businesses. Antwerp saw the most hiring activity as the region s businesses further developed and professionalised. We also saw an increased number of new permanent hires within blue-chip companies as firms relocated key positions back to Belgium following HQ centralisation. This was driven by the availability of multilingual candidates. The most sought-after permanent positions in 2015 were project and business controllers, internal auditors and treasury professionals. These skill sets were popular across the wider commerce and industry sector. Due to new employment legislation in Belgium, temporary-to-permanent hiring was strong across the sector. Interim management remained a big part of the market in 2015, with candidates actively hired across a wide variety of assignments, especially in HR and for process optimisation projects. As expected, multilingual cash collectors and credit collectors were hired increasingly in 2015, but there was a notable lack of these candidates, particularly in the second half of the year. Heading into 2016, hiring managers are confident and candidates are willing to move so we anticipate a rise in recruitment levels. Professionals looking for a new role are expecting real opportunities to further their careers within an organisation, this will mean that many strong candidates will be prepared to make a horizontal move to acquire new skills as readily as take a promotion. Employers will particularly be looking for candidates with both technical specialist skills and the ability to add value to business decision-making. Trilingual 61 Robert Walters Global Salary Survey 2016

63 Belgium candidates will be especially in demand, even more so in client and customer-facing roles. The 5-10% salary rises seen in 2015 will accelerate in 2016, with more emphasis on performance bonuses, sign-on bonuses, and long-term incentive plans. This is the strongest upward trend witnessed since the financial crisis in However, job movers will also be looking for non-financial incentives, such as flexibility and work-life balance from prospective new employers. ENGINEERING & SUPPLY CHAIN The engineering recruitment market in 2015 was consistent with the careful recovery across industrial sectors. The key motivation for all engineering professionals seeking a new role, remains the total remuneration package, including salary and fringe benefits. However, job certainty, mobility, work-life balance and work atmosphere are also important drivers. Overall, mid-level managers and professionals with five to twelve years experience will particularly benefit from salary uplifts when changing jobs, due to the relative shortage on the market. Junior professionals will have high salary expectations due to structural shortages across engineering but it s just as important to invest in the employer brand to attract these candidates; presenting compelling reasons to join the business will go a long way to secure the best. Demand for professionals with three to five years experience increased across manufacturing, logistics, services, construction and projects. Senior managers with both strong technical and leadership competences were also sought after as companies sought to reduce costs and improve operational excellence. SMEs were actively hiring across engineering and transport systems, however, many firms in the production and material technology sectors struggled to attract the right candidates. Aeronautics, space, security and defence were better positioned to hire top engineering talent. We recommend that a dedicated search is undertaken to hire the best in those sectors that aren t a candidate s first choice. In 2016 a mix of managerial and disciplinary skills will remain in high demand, but there will be a persistent skills shortage in methods functions such as quality, lean management, maintenance, HVAC engineering and HSE. With an increase in international M&A activity, senior managers in supply chain and operations management will have more opportunity for cross-sector career moves internationally in 2016, placing greater pressure on the local market which could further contribute to talent shortages. Belgium 62

64 BELGIUM BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM EUR ( ) 5-9 YRS EXP 9-15 YRS EXP 15+ YRS' EXP Managing Director k k Finance Director/CFO k k k k k k Internal Auditor/Manager/Director k k k k k k Risk Manager/Director k k k k k k Legal/Compliance Manager k k k k k k Life/Non-life Actuary k k k k k k HR Manager/Director k k k k k k Institutional Sales Manager k k k k k k Financial Controller/Analyst k k k k k k Corporate Finance Specialist k k k k k k Asset/Portfolio Manager k k k k k k Private/Corporate Banker k k k k k k Accounting Manager k k k k k k Production/Claims Manager 53-74k 53-74k 62-84k 62-84k 72-90k 72-90k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 63 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

65 BELGIUM COMMERCE & INDUSTRY ROLE PERMANENT SALARY PER ANNUM EUR ( ) 5-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Chief Financial Officer k k Finance Director k k F&A Manager 75-90k 75-90k k k Internal Audit 50-70k 60-80k k k k k Accounting Manager/Director 65-80k 70-85k k k Financial Analyst/Controller 50-70k 50-70k 65-90k 70-95k k k Business Analyst/Controller 55-75k 55-80k 70-95k k k k Legal Manager/Director k k k k Consolidation Manager 75-85k 80-90k k k Treasurer/Group Treasurer 50-75k 65-75k k k k k Treasury Analyst 50-65k 55-65k 65-80k 70-85k Tax Manager/Director k k k k Legal Counsel 65-90k 70-90k k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Belgium 64

66 BELGIUM ENGINEERING & SUPPLY CHAIN ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-10 YRS' EXP 10+ YRS' EXP Expert & Technical Research & Development 55-70k 55-72k 65-90k 65-90k k k Process Design 50-72k 50-75k 60-75k 60-75k 75-95k 75-95k Product/Application Engineering 50-65k 50-65k 68-82k 68-82k k k Manufacturing Site Operations Management k k Engineering & Technical Services 50-65k 50-70k k k k k Production & Operations 55-65k 55-70k 70-85k 70-85k k k Maintenance/Facilities 50-62k 50-62k 60-85k 60-85k k k Supply Chain Purchasing/Procurement 52-60k 52-60k 65-85k 65-85k k k+ Logistics/Warehousing 50-60k 50-60k 60-75k 60-75k k k Projects/Methods Contract Management 65-90k 65-90k k k Construction Engineering 50-68k 50-70k 65-85k 65-85k k k+ Methods/Technology Engineering 50-65k 50-65k k k k k Health/Safety/Environmental 50-65k 50-65k 70-95k 70-95k k k Quality Assurance/Methods 45-55k 45-60k 60-80k 60-80k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 65 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

67 BELGIUM INTERIM MANAGEMENT ROLE DAILY CLIENT RATE EUR ( ) General Management CEO/Business Unit Director Finance Chief Financial Officer Group Controller/Finance Director Controller/Finance Manager Risk/Tax/Treasury Manager Senior Financial Analyst Accounting Manager Human Resources Group HR Director HR Manager HR Business Partner Production/Logistics/Purchasing Plant Director Supply Chain Director ERP Specialist Purchase Manager Quality/Safety Manager IT Chief Information Officer IT Manager Programme/Project Management Programme Manager Project Manager NB: Interim management figures are daily client rates. 9 Robert Walters Global Salary Survey 2016 Belgium 66

68 BELGIUM CONTRACT BUSINESS SUPPORT ROLE CONTRACT SALARY PER MONTH EUR ( ) 0-3 YRS' EXP 3-6 YRS' EXP 6+ YRS' EXP Student Job Administration Office Assistant Management Assistant Personal Assistant Office Manager Legal Assistant/Secretary Sales & Marketing Marketing & Communications Officer Sales Assistant Customer Service Representative Customer Service Team Leader Logistics & Supply Chain Supply Chain Officer Purchasing Officer Logistics Administrator Human Resources HR Assistant HR Officer Payroll Officer HR Business Partner NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 67 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

69 BELGIUM CONTRACT FINANCE ROLE CONTRACT SALARY PER MONTH EUR ( ) 0-3 YRS EXP 3-6 YRS EXP 6+ YRS' EXP Brussels & Flemish Brabant Student Job Junior Accountant Assistant Accountant (AP/AR) General Ledger Accountant Senior/Chief Accountant Credit Collector Payroll Specialist Business Analyst Financial Controller Back Office Employee Middle Office Employee East Flanders Student Job Junior Accountant Assistant Accountant (AP/AR) General Ledger Accountant Senior/Chief Accountant Credit Collector Payroll Specialist Business Analyst Financial Controller NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Belgium 68

70 France Lyon Paris Saint-Quentin Strasbourg THE FRENCH RECRUITMENT MARKET STARTED TO SHOW SIGNS OF GROWING CONFIDENCE MID-WAY THROUGH 2015, WITH AN INCREASE IN DIGITAL AND HIGH-TECH PROJECTS CONTRIBUTING TO RISING HIRING LEVELS. COMPANIES WERE STILL SOMEWHAT CAUTIOUS IN THEIR OUTLOOK BUT SPECIALIST PROFESSIONALS WERE INCREASINGLY ABLE TO SECURE NEW ROLES INSIGHT Encouragingly, there were positive signs in banking and financial services with a rebound of recruitment in retail banking, a growing need for senior candidates in key areas of investment banks and a rise in demand for contract staff across both front and back office. Digital marketing specialists were also sought after across a range of sectors, and engineers were in demand as many businesses across automobile, aeronautics, biotechnology and medical devices focused on innovation projects. With growing interest and investment in innovative French SMEs and start-ups, particularly in the Internet of Things (IoT) and biotech, we saw an uplift in hiring as these firms restructured their teams in the context of ambitious and sustainable development plans. 69 Robert Walters Global Salary Survey 2016 Succession planning was an ongoing theme in 2015, with a rise in hiring at the mid-level as companies encouraged deputies to work alongside existing leaders and managers. Combined with an increase in replacement hiring at the senior end, there was a slight upswing across the market. We also saw growing keenness among candidates to work in the regions, enabling the spread of talent to reach towns and cities away from Paris supporting business success across the French market as a whole EXPECTATIONS In 2016, ongoing recovery will continue to drive improvement in the overall recruitment market, supported by further investment in French companies. Demographic changes will also contribute to a more positive hiring outlook as increasing numbers of retirements lead to a renewal of skill sets and a digitally focused generation joins the workforce. Overall, the most popular hires of 2016 will be those in roles that benefit most from digital changes, particularly in the areas of supply chain, insurance (online comparison browsers) and online traffic management. Shortages of talent may well emerge in some areas during Technical risk and compliance experts will be highly sought after by both banks and insurers. In IT, there will be a marked scarcity of professionals with SAP, data science and data mining expertise. R&D and quality and regulatory specialists will also be in strong demand across organisations in the healthcare sector. With a growing focus on human resource-related challenges, companies of all sizes will look to recruit HRIS (HR information systems), compensation and benefits, talent acquisition and labour law specialists in order to retain their workforce. Promoting social diversity will be a significant trend in Those companies able to reach out and recruit professionals from diverse academic and cultural backgrounds will be increasingly seen as more attractive propositions to jobseekers. This will mark a move away from hiring purely on the basis of technical expertise. In a parallel trend, professionals are increasingly demanding a stimulating and open working environment, where communication and collaborative skills are highly valued. Competition for top talent will intensify as the year progresses, and companies will need to adapt fast to meet the changing expectations caused by digital transformation.

71 Competition for top talent will intensify in 2016, and companies will need to meet the changing expectations of candidates who demand transparency, flexibility and reactivity as a crucial part of the recruitment process. + 5% (EJI) Year-on-year increase in the number of jobs advertised in France 2015 INCREASE IN JOBS ADVERTISED LILLE 32% (EJI) France PARIS 4% KEY FINDINGS With the growing investment in innovative French SMEs and start-ups, particularly in IoT and biotech, we saw an uplift in hiring. LYON 18% French professionals who believe they are paid their market value French professionals who have trust in the future of their own sector In 2016, ongoing recovery will continue to drive improvement in the overall recruitment market, supported by further investment in French companies. 60% 80% (EIS) (EIS) EJI: Robert Walters European Job Index, Q v Q EIS: Robert Walters Employee Insights Survey 2015, 7,000 respondents. France 70

72 France France OVERVIEW We expect top talent in all markets and disciplines to command rises of 10-20% in SMEs and start-ups will offer increases towards the top of that scale, while established businesses will give a wider range of benefits, including work-life balance opportunities. ACCOUNTING & FINANCE PERMANENT Demand remained steady at both industrial companies and FMCG firms for consolidation, treasury and internal audit professionals in Salaries for those moving jobs in these areas rose by 10-15% during the year. Outside Paris, there was a particular shortage of financial controllers and CFOs in the South West region. In the Rhône-Alpes, we saw the return of recruitment budgets for key roles in financial control, regulatory affairs and supply chain management. In 2016, we expect more companies to focus on succession planning by increasingly hiring professionals to fill mid-level roles, in the expectation that they will eventually take over more senior finance positions within the business. INTERIM As more companies launched restructuring programmes, there was a greater demand for interim financial professionals with change management experience. Candidates specialised in financial direction, controlling, consolidation, accounting and tax will be the most sought after. In 2016, we expect to see more interim managers from French companies working overseas on international projects in the US, Russia and Asia. Interim talent will also be sought after by companies implementing leveraged buy-outs, as they seek expert support to restructure their organisation. We therefore anticipate a growing shortage of candidates. CONTRACT Demand for contract professionals was strong in 2015, with a marked increase in the number of job offers. There was an increase in hiring across a range of sectors, with the luxury goods, pharmaceuticals, FMCG and manufacturing sectors the most active hirers. The increasing internationalism of French companies also made proficiency in English a particularly important skill for jobseekers. A shortage of contract payroll management and general accountancy candidates drove a slight increase in rates across the board during 2015, and we expect to see further increases for such professionals in BANKING & FINANCIAL SERVICES PERMANENT There were positive hiring signs across investment banking in 2015 as senior professionals with 8-10 years experience found their skills in demand. Mergers and acquisitions, relationship management, and risk and compliance specialists were especially sought after. In retail banking, an increasing emphasis on building and maintaining positive customer relationships meant a rebound in hiring levels for sales and branch managers. As the regulatory requirements continue to tighten, we anticipate particularly strong demand during 2016 for technical risk and compliance expertise. INTERIM The implementation of new regulatory frameworks in 2015, such as Basel III, Solvency II and the Accord National Interprofessional (ANI) Law, meant that experienced interim managers able to deliver over the requisite timescale were increasingly sought after by both banks and insurers. We believe that the increasing reliance on interim professionals to deliver transformation plans is part of a growing trend in the financial services sector, and one that is set to continue in CONTRACT Online banking continued to grow rapidly in France during 2015, driven by evolving consumer internet usage and the digital transformation of the sector. This ensured that the contract jobs market was particularly active during the year, especially for online customer service representatives. The constant development of the regulatory environment also meant that front and back office contractors were highly sought after. KEY KEY TRENDS We expect top talent in all markets and disciplines to command rises of 10-20% in We witnessed a growing keenness among candidates to work in the regions. Professionals are increasingly demanding a stimulating and open working environment, where communication and collaborative skills are highly valued. The most popular hires of 2016 will be those that benefit most from digital transformation. Roles in demand include: chief digital officer, data scientist, traffic manager, e-crm manager, m-commerce manager and online customer service professionals. 71 Robert Walters Global Salary Survey 2016

73 France We also saw significant growth in the popularity of contract professionals with specialist skills in more than one back or middle office area, such as a combination of reporting and project management capabilities. We expect to see steady demand for contract risk and compliance expertise in 2016, as well as a continued high level of hiring in order to implement and maintain online and mobile banking systems. BUSINESS SUPPORT Rates of pay were largely stable throughout 2015 for contract support professionals, although a shortage of skilled PAs led to salary increases in this area. There was a wide diversity of business support roles recruited during the year, with hiring managers tending to seek candidates with several years of experience preferably gained within the employer s market sector. Bilingual professionals and administrative assistants were in high demand and employers were also looking for softer qualities such as proactivity, flexibility and initiative. In 2016, we expect hiring managers to continue showing a preference for candidates with sector-specific knowledge and strong interpersonal as well as operational skills. CONSULTING A more buoyant economy meant a significant increase in hiring by consulting firms during Candidates with between three to nine years experience who could support organisations in structuring their digital transformation were particularly sought after. Experienced change management consultants able to help financial services companies adapt to the new regulatory environment were also in high demand. Competition for experienced consultants will intensify in To attract the best talent, firms will need to offer higher salaries and clearer insights into career progression opportunities. The quality of the employer s reputation and the scope of the projects they have to offer will both be decisive factors for professionals who are considering more than one job offer. ENGINEERING & SUPPLY CHAIN PERMANENT As companies across industry increased investment to support and drive innovation, the number of permanent jobs created grew significantly during Across the board, demand was high for skilled professionals with experience in production, supply chain and business management. In 2016, we expect the drive for innovation to make research and development engineers increasingly popular hires, driving salaries upwards by 10-15%. Recruitment trends differed from region to region during In the South West, for example, we saw a specific requirement for aeronautical and onboarding systems expertise, which contributed to a 10-15% salary increase for those with the relevant skill sets. In the Rhône- Alpes, the growing importance of continuous improvement and supply chain innovation led to increased hiring among project management and procurement professionals. We expect the ageing population in the regions outside Paris to lead to an increase in replacement roles during INTERIM Interim managers were highly sought after during 2015 by companies in a number of sectors. Particularly high hiring levels were recorded in the automotive industry, where employers were keen to recruit site managers and supply chain directors. Quality and lean manufacturing programmes in the aeronautics industry also drove businesses to seek continuous improvement skill sets. We also witnessed a growing need for interim managers among utility companies providing environmental, transport and energy services. We believe that in 2016 the trend for investment funds in French companies will significantly increase the need for interim professionals with strong general management, site direction and project management experience. France 72

74 France France OVERVIEW ENGINEERING & SUPPLY CHAIN (CONTINUED) CONTRACT Contract hiring grew across the board in 2015, with a significant demand for customer relationship staff and sales administration assistants. Bilingual candidates and those with digital skills and sector-specific experience were particularly popular hires. The dynamic growth of the e-commerce and FMCG markets also meant pay rates were driven up by 20%. We anticipate increased hiring of commercial assistants and sales administrators in 2016, but we do not expect rates to rise. HEALTHCARE Following increasing competition in the sector, we saw high demand in 2015 for permanent clinical research and business development professionals across the French market, with a focus on the Rhône-Alpes region s cluster of biotech companies. We also saw ongoing demand for specialists in regulatory affairs and quality management among medical devices companies. There was a further increase in demand from the region s pharmaceutical labs for research and development and marketing specialists. The continuing innovation within the biotech sector, particularly in the Rhône-Alpes region, will continue to drive the need for healthcare professionals in HUMAN RESOURCES PERMANENT During 2015, we saw a continuation of the trend towards the segmentation of HR roles into a number of specialist areas of expertise, such as payroll, training, reward and recruitment. As a result, the role of the HR director is changing, becoming much more of a leadership role, drawing on the expertise from a team of specialists. We expect this trend to continue in 2016, with hiring managers seeking growing numbers 73 Robert Walters Global Salary Survey 2016 of candidates with specialist skill sets. This will also contribute to salary increases in the range of 10 15% for technical specialists in areas like HRIS (HR information systems) and compensation and benefits. During 2016, HR business partner roles will also gain further prominence as companies seek to closely link employee engagement with organisational strategy. INTERIM Two key trends were seen in Industrial companies were looking for interim HR management expertise to help deal with labour relations during and after major restructuring exercises. In addition, there was also a growing trend to outsource support roles including payroll and staff administration to interim professionals. In 2016, as industrial companies seek to reduce costs and become more competitive by streamlining their operations, the need to engage interim HR professionals with specialist project management and change management skills will intensify. CONTRACT As the tendency to recruit candidates with specialist HR skill sets increased in 2015, a dynamic market developed for contract professionals with sector-specific experience and technical skills. This trend will continue in 2016, when the implementation of La Déclaration Sociale Nominative designed to simplify payroll reporting on individual employees will increase demand for senior payroll managers. INFORMATION TECHNOLOGY PERMANENT There were strong levels of hiring across IT in 2015 with demand seen for CTO-level roles through to domain managers and SAP specialists. As the trend towards digital technology continues to gather pace in 2016 and competition intensifies for customer insights, we anticipate that companies will add to their levels of data expertise through increased recruitment of data mining specialists and analysts. Overall, hiring levels were highest amongst industrial and FMCG companies with the banking and insurance sectors also key drivers of demand. INTERIM The need for interim IT talent also grew during This was particularly driven by companies seeking support during digital transformation programmes or while outsourcing their IT infrastructure. The complexities involved meant that the greatest demand was for operationally skilled candidates with strong personal qualities such as commitment and adaptability. In 2016, the most sought-after interim IT professionals will be those capable of carrying out major projects to ensure that IT service management can transcend functional silos across the organisation. Expertise in reviewing sourcing policies, guiding enterprise resource planning (ERP) strategies and implementing large industry-specific software packages will be particularly needed. CONTRACT During 2015, companies of all sizes including start-ups chose contract support as the most cost-effective and efficient means of solving challenges that required a high degree of technical expertise. Contract professionals were appointed to help roll out new solutions, integrate software solutions and develop new IT features and applications. In 2016, we expect temporary contracts to be available for an even wider range of technology experts. We also anticipate that hiring managers will be particularly keen to source agile contract developers and technical experts who can display high levels of business acumen. INSURANCE PERMANENT As companies strove to gain and retain large, high-quality customers, key account managers with a particular strength in business development were sought after across the

75 France insurance industry in Actuaries were hired in steady volumes during the year, but experienced risk managers were in short supply. We also saw salaries increase by 10-15% for proven salespeople. The introduction of the Accord National Interprofessionnel (ANI) law on January , requiring private sector employers of all sizes to provide employees with health insurance cover, will continue to underpin the need for sales team growth throughout the year. New legislation will also require insurance companies to employ controllers with ACPR (Autorité de Contrôle Prudentiel et de Résolution) authorisation. CONTRACT We noticed a shortage of skilled insurance accounting and underwriting contractors with between three and five years experience in Meanwhile, bilingual professionals, particularly in the area of corporate risk, commanded a salary premium during the year. The ANI law will also drive strong demand for contract support throughout REAL ESTATE PERMANENT/INTERIM Both national and regional property developers were extremely active in the permanent recruitment market during In particular, the return of foreign investors to the Parisian commercial property market intensified the need for hiring managers to seek permanent and interim professionals with sector expertise. We expect permanent candidates to seek salary increases of 10-15% when moving jobs in 2016, when we also believe that the requirement for brokerage professionals will grow. CONTRACT Companies increasingly sought to work with specialist contract talent with between three and ten years of experience during 2015, when sales and property managers were particularly popular hires. Around half of all contract hires made in France during the year were in Paris and its suburbs or the Rhône-Alpes region. During 2016, contract candidates with the greatest hiring potential will be those with strong legal, financial and industry-specific knowledge. SALES & MARKETING The permanent placement market was highly influenced by ongoing trends in the wider economy in As a result, increased activity levels in the B2B sector particularly among industrial and technology consulting companies was balanced by a slowdown in hiring among retail and FMCG companies. We also saw a notable increase in the volume of digital roles, particularly in e-commerce and CRM, within the banking and insurance sectors. Outside Paris, there was significant growth in demand for export sales experts who could help the growth of companies involved in biotech and the IoT. Across all industries, however, sector-specific experience was the single most highly sought after quality. In 2016, we expect to see a greater emphasis on business development, digital strategy and marketing communications roles as companies seek to promote and sell their products more aggressively. TAX & LEGAL PERMANENT The permanent recruitment market for tax and legal professionals in 2015 was dominated by a strong need for specialist corporate, compliance and competition law practitioners. Strengthening regulatory requirements in the banking, insurance and automotive industries also led to employers seeking more specialist talent. In 2016, employers will increasingly need to improve the salary levels they offer to attract the legal expertise they require. In private practice, there was a continuing need in 2015 for corporate and labour law experts. A skills shortage emerged among candidates specialising in stock exchange law. We recommend that employers seeking top private practice talent in 2016 offer reward packages that include attractive career development and training opportunities. INTERIM During 2015, there was a very strong demand for interim tax and legal professionals experienced in project-based tasks such as merger and acquisition support, transfer pricing documentation and tax audits. We expect that the increasing regulatory burden facing many sectors means that interim tax and accounting specialists will be even more sought after in CONTRACT 58% Increase in insurance job volumes in France Biggest growth in advertised job volumes Q v Q Source: European Job Index % Increase in tax job volumes in France 13% Increase in HR job volumes in France Demand for contract tax and legal talent in 2015 followed patterns that were very similar to those for permanent candidates. In particular, hiring managers were keen to secure the services of corporate law specialists. As in 2015, interest will be especially high in 2016 for professionals who can demonstrate industry-specific knowledge and experience. France 74

76 PARIS ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Generalist CFO k k Finance Director - MNC k k Finance Director - SME k k Internal Audit Manager/Director 50-70k 50-70k k k k k Controlling Manager/Director 50-70k 50-70k k k k k Accounting Manager/Director 50-75k 50-75k k k k k Financial Control Manager/Director 55-70k 55-70k 70-90k 70-90k k k FP&A Manager/Director 45-65k 45-65k 60-90k 60-90k k k Specialist M&A Manager/Director 50-80k 50-80k k k k k Treasury Manager/Director 45-65k 45-65k k k k k Consolidation Manager/Director 55-80k 55-80k k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 75 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

77 PARIS BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Investment Banking Private Equity (Leverage) 50-95k k k k 140k+ 150k+ Risk Management 55-85k 55-90k k k 120k+ 130k+ M&A 50-95k k k k 120k+ 125k+ COO 145k+ 150k+ Coverage/Corporate Banking 55-85k 55-90k k k 125k+ 130k+ Asset Management 55-90k 55-90k k k 115k+ 115k+ Compliance 50-75k 50-75k k k 130k+ 140k+ Financial Analyst 55-95k 55-95k k k 110k+ 110k+ Financial Direction 50-65k 50-65k 60-95k 60-95k k k Retail Banking Risk Manager 50-65k 50-65k 65-85k 65-90k Branch Manager 45-60k 45-60k 60-75k 60-75k Compliance Officer 45-55k 45-55k 55-80k 55-80k Enterprise Adviser 45-55k 45-60k 55-70k 55-75k Private Banking Manager 45-55k 45-55k 55-70k 55-70k Credit Analyst 45-50k 45-55k 55-65k 55-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 France 76

78 PARIS SALARIES CONSULTING ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Strategy 60-80k 60-80k k k 160k+ 160k+ Organisation & Management 50-65k 50-65k k k 120k+ 120k+ ENGINEERING & SUPPLY CHAIN ROLE PERMANENT SALARY PER ANNUM EUR ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP Research & Development Head of R&D k k 110k+ 110k+ Specialist 70k+ 75k+ 80k+ 80k+ Manufacturing & Project COO 100k+ 100k+ 130k+ 130k+ Maintenance Manager/Director 60-90k 60-90k k k UAP Manager/Director 55-70k 55-70k 65-85k 65-85k 80k+ 80k+ Programme Manager/Director 55-70k 55-70k 65-85k 65-85k Continuous Improvement Quality Manager/Director k k 95k+ 95k+ Lean Manufacturing Manager/Director 55-70k 55-70k 65-85k 65-85k k k HSE Manager/Director 50-65k 50-65k 65-80k 65-80k k k Supply Chain & Procurement Supply Chain Manager/Director 90k+ 90k+ 110k+ 115k+ Procurement Manager/Director 75-95k 75-95k 110k+ 110k+ Buyer 45-60k 45-60k 55-75k 55-75k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 77 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

79 PARIS HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM EUR ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP Generalist HR Director International k k k k 115k+ 120k+ HR Director France 65-90k 65-90k k k 120k+ 120k+ HR Business Partner 55-70k 55-70k 65-85k 65-85k 85k+ 90k+ Training & Development HR Development Manager 60-75k 60-75k 70-85k 70-90k 90k+ 90k+ Talent Acquisition Manager 60-70k 60-70k 70-85k 70-90k 90k+ 90k+ Recruitment Manager 55-65k 55-65k 60-80k 60-80k 80k+ 80k+ Training Manager 55-65k 55-65k 60-75k 60-80k 75k+ 75k+ Specialist Labour Relations Manager/Director 65-80k 65-80k 75-95k 75-95k 100k+ 100k+ Comp & Bens Manager 60-75k 60-75k 75-90k 75-90k 95k+ 95k+ Payroll Manager 55-65k 55-65k 60-75k 60-75k 75-85k 75-90k Social Business Controlling Manager 55-65k 55-65k 60-70k 60-75k 75-90k 75-90k Labour Law Jurist 50-60k 50-60k 55-75k 60-80k 80k+ 80k+ HRIS Manager 55-65k 55-65k 60-70k 60-70k 70k+ 70k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 France 78

80 PARIS INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM EUR ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP Management CIO k k 145k+ 145k+ CTO k k 125k+ 125k+ Production Director k k 110k+ 110k+ Application Director k k 115k+ 115k+ Infrastructure Director 70-90k 70-90k k k BI & CRM Director k k 100k+ 100k+ IT Business Partner 80-90k 80-90k 95k+ 95k+ Project Programme Director 75-90k 75-90k k k Delivery Manager 60-75k 60-75k 80k+ 80k+ IS Consultant 50-60k 50-60k 55-70k 55-70k Digital Chief Digital Officer k k Data Scientist 50-60k 55-65k 55-70k 60-75k ERP Implementation Competency Center Director k k k k SAP Domain Manager 80-85k 80-85k 90k+ 90k+ PMO 60-70k 60-70k 65-75k 65-75k 75-85k 75-85k SAP Consultant 55-65k 55-65k 65-70k 65-70k Technical CISO 75-80k 80-85k 80-95k k 100k+ 100k+ IS Architect 60-90k 60-90k 90k+ 90k+ DBA/Application Engineer 45-55k 45-60k 50-70k 55-75k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 79 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

81 PARIS SALARIES INSURANCE ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Actuary 55-75k 55-70k k k 90k+ 100k+ Risk Manager 50-65k 50-65k 60-85k 60-90k 90k+ 100k+ Underwriter 45-60k 45-60k 60-85k 60-90k 90k+ 90k+ Key Account Manager 35-50k 35-50k 45-60k 45-60k Back Office Manager 40-55k 40-55k REAL ESTATE ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-10 YRS' EXP 10+ YRS' EXP Asset Management Investment Manager/Director 45-70k 45-75k k k k k Asset Manager/Director 45-60k 45-60k k k k k Property Manager/Director 40-50k 45-55k 55-75k 55-75k k k Property Development Programme Manager/Director 45-55k 45-55k k k k k Development Manager/Director 45-50k 55-60k 60-65k 60-65k 85-90k k Technical Director 70k+ 70k+ Sales Director 40-70k 45-75k 55-80k 55-90k k k Buyer Counselling Real Estate Manager/Director 45-65k 45-65k 55-75k 55-75k k k Broker 25-60k 25-60k 60-90k 60-90k k k Investment Broker 30-60k 30-60k 60-90k 60-90k k k Corporate Consultant 45-65k 45-65k 55-80k 55-80k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 France 80

82 PARIS INTERIM MANAGEMENT ROLE INTERIM RATE PER DAY EUR ( ) Finance CFO Accounting Director Financial Controller Tax & Legal Tax Director Legal Director Risk/Tax Manager Human Resources HR Director Restructuring Director Comp & Bens Director Engineering Chief Restructuring Officer Industrial Site Director Supply Chain Director Information Technology CIO CTO Programme Manager Banking & Insurance HR Director Risk & Compliance Director Real Estate CFO NB: Interim management figures are daily rates. 81 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

83 PARIS SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Sales Sales Manager/Director k k k k Export Manager/Director 65-80k 65-80k k k National Sales Director 70-90k 70-90k k k Regional Sales Manager 45-60k 45-60k 60-80k 60-80k Retail Sales Manager/Director 40-60k 40-60k 65-85k 65-90k k k Key Account Manager/Director 60-80k 60-80k 90k+ 100k+ E-commerce Manager/Director 50-60k 50-60k 65-70k 65-70k 100k+ 100k+ Technical Sales Manager/Director 55-70k 55-70k 70-90k 70-90k 100k+ 100k+ Flagship Manager/Director 45-60k 45-60k 55-70k 55-70k k k Marketing Marcomms Manager/Director 45-60k 45-65k 65-85k 65-85k k k Digital Marketing Manager/Director 40-60k 40-60k 60-80k 65-85k 100k+ 100k+ Category Manager/Director 45-60k 45-60k 55-70k 55-70k 85k+ 90k+ Product Manager/Director 45-55k 45-55k 50-70k 50-70k 60-80k 60-80k Trade Marketing Manager 45-60k 45-60k 55-75k 55-75k PR Specialist 35-55k 35-55k 50-80k 50-80k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 France 82

84 PARIS TAX & LEGAL ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-5 YRS' EXP 5-8 YRS' EXP 8+ YRS' EXP Legal Legal Director 80k+ 80k+ 100k+ 100k+ Corporate M&A Legal Counsel 45-65k 45-65k 65-90k 65-90k 90k+ 90k+ Business/Contract Law Counsel 45-60k 45-60k 65-80k 65-80k 80k+ 80k+ Intellectual Property Law Counsel 40-55k 40-55k 55-75k 55-75k 75k+ 75k+ Labour Law Counsel 45-60k 45-60k 65-85k 65-85k 85k+ 85k+ Tax Tax Director 105k+ 105k+ Tax Generalist 55-70k 55-70k 75-90k 75-90k 90k+ 90k+ International Tax Officer 55-75k 55-75k 75-95k 75-95k 95k+ 95k+ VAT/Indirect Tax Specialist 55-70k 55-70k 75-85k 75-85k 85k+ 85k+ Transfer Pricing Specialist 55-75k 55-75k 75-95k 75-95k 95k+ 95k+ Compliance Compliance Officer 55-70k 55-70k 75-95k 75-95k 105k+ 105k+ Corporate Affairs/Lobbying Corporate Affairs Specialist 45-60k 45-60k 65-85k 65-85k 85k+ 85k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 83 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

85 PARIS PRIVATE PRACTICE ROLE PERMANENT SALARY PER ANNUM EUR ( ) US Firms Equity Partner (8+ yrs' exp) 500k+ 500k+ Counsel/Local Partner (8+ yrs' exp) k k Associate (8+ yrs' exp) 160k+ 160k+ Associate (5-7 yrs' exp) k k Associate (2-4 yrs' exp) k k UK Firms Equity Partner (8+ yrs' exp) 400k+ 400k+ Counsel/Local Partner (8+ yrs' exp) k k Associate (8+ yrs' exp) 150k+ 150k+ Associate (5-7 yrs' exp) k k Associate (2-4 yrs' exp) k k French Firms Partner (8+ yrs' exp) 150k+ 150k+ Associate (8+ yrs' exp) 120k+ 120k+ Associate (5-7 yrs' exp) k k Associate (2-4 yrs' exp) k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 15 Robert Walters Global Salary Survey 2016 France 84

86 PARIS CONTRACT ACCOUNTING & FINANCE ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Accounting General Accountant 30-45k 35-45k Accounts Payable 24-32k 24-32k Accounts Receivable 24-32k 24-32k Finance Credit Manager 35-42k 37-45k Cash Accountant 34-42k 35-45k Junior Business Analyst 32-40k 35-40k Payroll Administrator 28-34k 30-36k Credit Controller 24-32k 24-34k BANKING & FINANCIAL SERVICES ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Back Office 26-34k 26-34k Middle Office 32-40k 32-40k Compliance Officer 35-45k 35-45k Financial Analyst 28-35k 28-35k Online Banking Customer Advisor 24-26k 24-26k Bank Receptionist 21-25k 21-25k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 85 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

87 PARIS CONTRACT BUSINESS SUPPORT ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Personal Assistant 45-55k 45-55k Office Manager 35-38k 35-40k Executive Assistant 38-45k 40-45k Team Assistant 34-37k 34-37k Administration Assistant 18-24k 20-25k HUMAN RESOURCES & LEGAL ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Training Officer 30-35k 32-38k Recruitment Officer 30-38k 30-38k HR Officer 30-35k 30-36k Legal Assistant 26-30k 28-32k HR Assistant 24-30k 25-32k INFORMATION TECHNOLOGY ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Technical Project Manager 40-50k 40-50k Development Engineer 37-45k 35-50k System & Network Administrator 30-36k 30-38k Junior Webmaster/Web designer 24-30k 26-32k Support Technician 22-30k 22-30k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 17 Robert Walters Global Salary Survey 2016 France 86

88 PARIS CONTRACT INSURANCE ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Underwriter 35-45k 35-45k Insurance Accountant 30-35k 30-35k Claims Manager 25-35k 28-35k Production Manager 25-35k 25-35k Call Center Operator 22-27k 24-28k REAL ESTATE ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Residential Co-ownership Manager 32-45k 32-45k Rental Manager 27-35k 27-35k Principal Accountant 30-38k 30-38k Co-ownership Accountant 28-38k 28-38k Rental Accountant 28-35k 28-35k Co-ownership Administration Assistant 25-32k 25-32k Rental Administration Assistant 23-28k 23-28k Commercial Property Manager 32-50k 32-50k Accountant 34-45k 34-45k Administration Assistant 28-33k 28-33k Technical Estate Technical Manager 32-45k 32-45k Estate Technical Assistant 28-33k 28-33k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 87 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

89 PARIS CONTRACT SUPPLY CHAIN ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Supplier Planner 27-33k 27-33k Import Export Assistant 26-32k 26-32k Sales Administration Assistant 22-28k 22-28k Logistics Assistant 24-28k 24-28k Customer Service Assistant 19-22k 19-22k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 19 Robert Walters Global Salary Survey 2016 France 88

90 LYON SALARIES ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP CFO k k 120k+ 120k+ Financial Controller 60-80k 60-80k 70-90k 70-90k k k Consolidation (statutory) 60-90k 60-90k k k k k Accounting Manager 50-60k 50-60k 60-90k 60-90k k k Treasury & Cash Manager 50-70k 50-70k 55-80k 60-85k k k Internal Auditor 50-70k 50-70k 70-90k 70-90k k k ENGINEERING ROLE PERMANENT SALARY PER ANNUM ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP R&D R&D Director 80k+ 80k+ 90k+ 90k+ Technical Expert 65k+ 65k+ 80k+ 80k+ Manufacturing Plant Manager 70-90k 70-90k 100k+ 100k+ Maintenance Manager 45-60k 45-60k 55-70k 60-80k 70-85k k UAP Manager 45-65k 45-65k 60-75k 65-80k 70-90k 70-95k Continuous Improvement Quality Director 65-75k 65-80k 85k+ 85k+ Lean Manufacturing Manager 45-60k 45-60k 60-70k 60-70k 75-90k 75-90k HSE Manager 45-55k 45-60k 50-70k 60-70k 70-85k 75-85k Supply Chain & Procurement Supply Chain Director 60-85k 75-90k 90k+ 100k+ Procurement Director 75-85k 75-85k 90k+ 90k+ Purchasing Engineer 40-50k 45-55k 50-65k 50-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 89 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

91 LYON SALARIES HEALTHCARE ROLE PERMANENT SALARY PER ANNUM ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP Regulatory Affairs Manager 55-65k 60-70k 65-70k 70-75k k k Quality Assurance Manager 55-65k 60-70k 65-70k 70-75k k k R&D Project Manager 50-60k 50-60k 60-75k 60-80k 75-90k 80-90k Clinical Research Manager 50-60k 50-60k 60-80k 60-80k k k Medical Marketing Manager 50-65k 55-70k 65-80k 70-80k k k Business Developer 50-65k 50-70k 65-90k 70-90k k k HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP HR Director k k k k HR Specialist 50-65k 50-65k 60-85k 60-85k 70-90k 70-90k Labour Law Specialist 50-60k 50-60k 60-80k 60-80k k k Comp & Bens Specialist 50-65k 50-65k 65-80k 65-80k Talent Manager 40-60k 40-60k 55-75k 55-75k INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP CIO k k 120k+ 120k+ Security Manager 45-65k 45-65k 70-80k 70-80k k k Programme Manager 50-70k 50-70k 65-90k 65-90k k k SAP Project Manager 45-60k 50-65k 65-80k 65-80k k k CRM Project Manager 45-60k 50-65k 65-80k 70-85k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 21 Robert Walters Global Salary Survey 2016 France 90

92 LYON SALARIES LEGAL ROLE PERMANENT SALARY PER ANNUM ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP Legal Manager/Director 50-60k 60-70k 70-90k 70-90k 90k+ 100k+ Compliance Officer 50-70k 50-70k 70-80k 70-80k Legal Expert 45-60k 45-60k 60-70k 60-70k SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM ( ) 5-8 YRS' EXP 8-15 YRS' EXP 15+ YRS' EXP Sales Sales Manager/Director 70-80k 70-80k k k 110k+ 110k+ Business Development Manager 60-70k 60-70k 70-80k 70-80k 90k+ 90k+ Key Account Manager 45-60k 45-60k 55-70k 55-70k 65-80k 65-80k Marketing Marketing Manager/Director 60-70k 60-70k 70-90k 70-90k 90k+ 90k+ Product Manager 45-60k 45-60k 60-80k 60-80k 75k+ 75k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 91 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

93 LYON CONTRACT ROLE CONTRACT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Finance & Human Resources Payroll Administrator 38-42k 39-43k General Ledger Accountant 28-35k 28-35k Banking & Insurance Banking Customer Advisor 23-32k 24-32k Back Office 22-28k 22-28k Business Support Support Sales 20-24k 20-25k Sales Administration Assistant 22-26k 22-26k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 23 Robert Walters Global Salary Survey 2016 France 92

94 Germany Düsseldorf Frankfurt OVERALL, THE GERMAN JOBS MARKET WAS BUOYANT IN A HEALTHY ECONOMY LED TO STRONG LEVELS OF JOB CREATION AND A GROWING SHORTAGE OF SKILLS. THIS TREND IS LIKELY TO CONTINUE IN INSIGHT With growing skills shortages, we saw a very candidate-driven market in 2015 and specialist professionals were often in the privileged position of being able to choose between several roles. Further pressure was placed on Germany s talent pool as key demographic changes began to take effect with higher numbers of retirees also creating greater movement in the market EXPECTATIONS Specialist professionals will be able to find good job opportunities across most sectors, from entry-level to senior management positions, in Financial services companies will continue to invest in their Frankfurt operations and hiring levels are likely to be strong as the city is firmly cemented as a top ten global financial centre. Hiring managers in this sector are looking for professionals who have experience working for international companies, especially those who have worked abroad and are able to speak English fluently and preferably another language. Despite the robust market we anticipate only steady increases in basic remuneration. However, for those with niche skill sets, such as financial services candidates with sound knowledge of regulation in the German and European markets, there is an opportunity to command major salary rises. Several banks are, once again, developing their range of structured products a clear indication that the demand for risk and regulatory roles will increase. Similarly, the demand for experienced IT professionals should remain high in 2016, particularly those with consulting skills and experience in SAP and software systems. We anticipate marked salary increases for these specialists, with experienced SAP/process and project managers gaining the most. HIRING THE BEST IN 2016 Faced with growing candidate shortages, recruitment processes need to be quick and efficient if companies want to secure top talent in 2016 ensuring sign-off is in place at an early stage will help prevent losing out on first-choice candidates. Employers will also need to offer competitive remuneration to attract the best candidates, but incentives will need to be more than just financial. Defining a clear career path and offering quality training will prove persuasive when trying to secure the best candidates. ACCOUNTING & FINANCE Growing competition for skills between international companies and the rising number of professionals retiring meant that many companies, particularly small to medium-sized firms, struggled to find professionals with sufficient knowledge and managerial experience in Finance managers with six to ten years experience remained sought after, especially those well-grounded in national and international accounting regulations, risk management and business process improvement. International project experience was also at a premium. Hiring activity at the mid to senior management level was competitive due to a lack of junior talent with sufficient experience to promote. To secure the best talent at this level in 2016 employers should consider improving salary 93 Robert Walters Global Salary Survey 2016

95 Germany OVERVIEW Germany packages or scaling down their expectations of a candidate s expertise. We expect a general increase in remuneration packages and wider benefits across finance roles in 2016, as candidates are keenly aware of the skills shortages in the market. Finance professionals are still interested in career development opportunities, but attractive salary, bonus and benefit packages are proving decisive factors behind any potential move. BANKING & FINANCIAL SERVICES As regulatory requirements in this sector become stricter, banks are struggling to find professionals suitably qualified in the areas of risk management and regulation. We anticipate increased job opportunities within risk management, regulatory reporting and compliance, and expect banks and financial services firms to hire more finance, accounting and product control staff than in As bank profits improve and the market strengthens, the need for back office support will also increase. A shortage of suitably qualified professionals means those who fit an employer s main criteria will often be in the position to choose between job offers. In this competitive environment, broader benefits packages become more relevant. Bonus levels, company cars, flexible hours and working from home are all likely to enter into the equation when candidates choose between roles salary is only one consideration. INFORMATION TECHNOLOGY The importance of cloud computing and big data was reflected in heightened demand for IT professionals in However, it is proving increasingly difficult for companies to find qualified IT candidates and retain existing specialists within their business. In 2015, the demand for experienced IT professionals, particularly those with consulting skills and experience in SAP and software systems, was high. This trend is set to continue in We anticipate salary rises in 2016, especially for experienced SAP/process and project managers. Top candidates with strong project management and systems operations experience will find no shortage of opportunities and we may well see further upward pressure on salaries. Demand for IT professionals will be most evident across automotive, logistics and engineering in 2016 all sectors that rely heavily on technology to maintain their operations. SALES & MARKETING Recruitment levels for sales and marketing professionals were steady in 2015 and are unlikely to change significantly in We believe there will be an increased focus on middle to senior management positions as companies look for experts with experience in budgeting and team leadership. Employers will also seek to retain talented junior staff by offering them in-house training and providing career progression opportunities, for instance, the chance to run a business unit. We expect increased hiring activity in the ICT market in 2016, and technical sales professionals with an IT background will be highly sought after. Employers need to be aware of a growing preference among sales candidates to work from home. This option provides more flexibility in the weekly schedule and increased time at home helps compensate for lengthy business trips away. Hiring managers will also be expected to offer a transparent and motivating bonus model, based on targets agreed between the company and the candidate. Hiring managers will need to offer competitive salaries in 2016, however it should be noted that junior sales and marketing professionals are now much more motivated by work flexibility and bonuses salary rises alone are not enough to secure emerging talent. Faced with growing candidate shortages, hiring processes need to be quick and efficient if companies want to secure top talent in Ensuring sign-off is in place at an early stage will help prevent losing out on first-choice candidates. KEY TRENDS We expect increased hiring activity in the ICT market in 2016 technical sales professionals with an IT background will be highly sought after. Finance professionals are still interested in career development opportunities, but attractive salary, bonus and benefits packages will greatly influence any potential move. Hiring managers in the financial services sector are seeking professionals with experience working for international companies, particularly those who have worked abroad and speak fluent English, as well as another language. Germany 94

96 GERMANY ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP YRS' EXP PERMANENT SALARY PER ANNUM EUR ( ) Chief Financial Officer 150k+ 150k+ Finance Director/Group Controller k k k k Finance Manager k k k k Manager Shared Services 55-85k 60-90k 60-90k k Corporate M&A VP/Director k k k k Tax Director k k k k Division Controller k k k k FP&A Manager 65-95k k k k Controller 50-80k 55-85k 60-85k 65-90k Internal Audit Manager k k k k Chief Accountant 50-70k 60-80k 50-80k k Financial Analyst 50-75k 50-75k Assistant Controller 40-50k 45-60k Treasurer 60-90k 60-90k k k Credit Manager 45-70k 45-70k 50-80k 50-80k Partner Audit Firms 200k+ 200k+ Manager Audit Firms 65-95k 65-95k k k (Senior) Associate - Auditor External 40-60k 40-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 95 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

97 GERMANY BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP YRS' EXP PERMANENT SALARY PER ANNUM EUR ( ) Chief Financial Officer 150k+ 150k+ Chief Operating Officer 150k+ 150k+ Managing Director 180k+ 180k+ Relationship Management/Sales k k k k Regulatory Reporting 65-95k k k k Compliance k k k k Audit 45-85k 50-90k k k Middle Office 50-85k 50-85k k k Risk Controlling 55-75k 60-80k k k Risk Management 55-90k 60-95k k k Asset Management k k k k Accounting 40-70k 45-70k k k Financial Analysis 45-70k 55-85k k k Product Control 60-90k 65-95k k k Product Specialist k k k k Structured Finance 60-95k k k k Leveraged Finance 60-80k k k k M&A k k k k Private Equity 55-75k 65-80k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Germany 96

98 GERMANY INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP YRS' EXP PERMANENT SALARY PER ANNUM EUR ( ) Management Chief Information Officer k k Chief Technology Officer k k IT Director k k k k Head of Application Management k k k k IT Infrastructure Manager 65-90k 65-90k k k Process Manager 65-80k 65-80k 80-95k 80-95k Manager Help Desk/Service Desk 60-75k 60-75k 65-80k 65-80k Test Manager 50-70k 50-70k 60-85k 60-85k Project Programme Manager k k k k SAP In-house Consultant 70-90k 70-90k k k Project Manager 55-85k 55-85k k k Business Analyst 55-75k 55-75k 60-90k 60-90k Test Analyst 50-60k 50-60k 65-75k 65-75k Technical Software Developer 50-70k 50-70k 65-80k 65-80k IT Security Specialist 55-70k 55-70k 60-75k 60-75k Infrastructure Engineer 55-65k 55-65k 60-70k 60-70k Mobile Developer 50-60k 50-60k 55-70k 55-70k Database Administrator 45-60k 45-60k 50-65k 50-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 97 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

99 GERMANY SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP YRS' EXP PERMANENT SALARY PER ANNUM EUR ( ) Sales National Sales Director k k Regional Sales Director k k Key Account Manager Industry 65-90k 65-90k k k Key Account Manager FMCG k k k k Key Account Manager Software k k k k Key Account Manager TELCO/ IT-hardware 65-85k 65-90k k k Key Account Manager Retail 60-80k 60-85k k k Key Account Manager Automotive 65-90k 65-90k k k Sales Representative 50-80k 50-80k 55-90k 60-95k Business Development Manager 65-95k 65-95k k k Pre-sales Consultant 65-90k 65-90k k k Sales Engineer 70-95k k k k Marketing Marketing Director 65-90k 65-90k k k Marketing Manager 50-75k 50-75k 65-95k 65-95k Online Marketing Manager 55-75k 55-75k 60-80k 60-80k Social Media Marketing Manager 50-75k 50-75k 60-80k 60-80k Brand Manager 50-75k 50-75k 60-80k 60-80k Category Manager 50-75k 50-75k 60-80k 60-80k Product Manager B2B 55-80k 55-80k k k Product Manager B2C 50-75k 50-75k k k NB: Figures are salaries including benefits/bonuses/full OTE. 9 Robert Walters Global Salary Survey 2016 Germany 98

100 Ireland IRELAND S RECRUITMENT MARKET WAS EXCEPTIONALLY BUOYANT IN 2015, WITH CONFIDENCE AMONG JOBSEEKERS AND BUSINESSES GROWING RAPIDLY ACROSS ALL SECTORS. WE ANTICIPATE STRONG ECONOMIC GROWTH IN 2016, LEADING TO AN INCREASE IN HIRING LEVELS. HOWEVER, A SHORTAGE OF SPECIALIST PROFESSIONALS WILL REMAIN A CRITICAL ISSUE INSIGHT We saw a resurgence of hiring across banking and financial services as global investment banks and domestic banks alike began to compete aggressively for the expertise needed for growth. Hiring activity also increased rapidly across a variety of commercial sectors, such as ICT, pharmaceuticals and FMCG. There was a steep increase in demand for professionals across all areas of business, contrasting with the previous five years where sporadic recruitment was seen in niche areas only EXPECTATIONS We expect this momentum to continue into 2016, with specific shortages occurring in financial, regulatory, compliance, risk, funds, digital marketing and data analytics. This may inflate salaries as employers compete to hire growing numbers of specialist professionals. For example, qualified accountants with up to five years experience will be highly sought after as finance departments look to add depth to their teams. We expect to see salary increases of up to 10% as employers seek to retain their most valuable employees. Compliance expertise will continue to be sought after in line with regulatory demands. As the commercial importance of data analysis increases, companies will continue to seek individuals with specialist skills in data analysis and business intelligence (BI). In 2016, we also expect to see an increase in counter-offers from companies faced with the need to retain key personnel. Organisations should look to highlight clear career progression, development and training programmes, as well as creating fast-track opportunities for high performers to improve retention levels. Companies recruiting new employees should also be prepared for a very different hiring environment compared with recent years. In 2016 the market will be strongly candidate driven, with candidates receiving multiple offers when moving jobs. Hiring managers will need to act quickly to secure their preferred candidates. As an increasing number of multinationals continue to choose Ireland as a destination for their European operations, hiring managers should consider initiatives that will help persuade Irish talent based overseas to return widening the pool of available talent. 99 Robert Walters Global Salary Survey 2016

101 With high levels of activity across the board, we anticipate candidate shortages will emerge in accounting, digital marketing and fund management in This may lead to salary inflation as employers compete to hire on a volume basis. KEY FINDINGS + 16% (EJI) Year-on-year increase in the number of jobs advertised in Ireland + 20% (EJI) Year-on-year increase in advertised roles in information technology + 18% (EJI) Year-on-year increase in advertised roles in accounting and finance Ireland We expect to see an increase in counter-offers and multiple offer situations as companies focus on retaining key personnel. 47% (EIS) The number of professionals who stated a lack of career progression as the main reason for leaving a role There was a steep increase in demand for professionals across all areas of business, contrasting with the previous five years where sporadic recruitment was seen in niche areas only. TOP 3 SECTORS BY ADVERTISED JOB VOLUME (EJI) Information technology Risk & compliance Accounting & finance EJI: Robert Walters European Job Index, Q v Q EIS: Robert Walters Employee Insights Survey 2015, 7,000 respondents. Ireland 100

102 Ireland Ireland OVERVIEW ACCOUNTING & FINANCE The Irish accounting and finance jobs market was buoyant in As the economy continued to recover, competition for top talent intensified across financial services and industry, increasing salaries for qualified accountants across the board. In a candidate-short market, competition also increased for newly-qualified professionals, with some companies even offering roles during interviews. All Irish banks began hiring aggressively in The permanent market increased significantly; unlike in previous years, fixed-term contracts were generally only used for maternity cover rather than for project-based work. We expect demand for qualified accountants will continue to be strong in 2016, particularly for those with up to five years post-qualification experience. Movement at the senior end of the market is likely to be slow, however, as companies continue to promote internally. Across commerce and industry, firms will continue to seek financial accountants, planning analysts, management accountants and finance business partners who can add commercial value to operations. With a rise in jobseeker confidence, more professionals are enquiring about new opportunities. As a result, we expect to see a continuing trend of accountants, particularly those who have been settled in a role for a number of years, looking elsewhere for a new challenge or career progression. Salaries for newly-qualified accountants increased by up to 10% in This was driven by a shortage of available talent and growing baseline salaries at professional services firms as they sought to retain employees. KEY TRENDS As salary expectations continue to increase in 2016, we advise companies to offer clear, welldefined career paths for existing staff, alongside a competitive remuneration package. BANKING & FINANCIAL SERVICES Hiring in banking and financial services grew throughout 2015 as confidence returned and organisations committed to expanding headcount and quickly looked to backfill positions that became vacant. Recruitment in credit and operational risk was steady at the senior end of the market but the real growth was seen at the mid-level salary range. Demand increased across all areas of back office support in the funds industry as international organisations grew their operations, both in Dublin and regionally. There was also a swell in insurance hiring towards the end of the year across actuarial pricing, claims and underwriting. Meanwhile, in asset management and corporate banking, there was a strong emphasis on risk analysis and reporting. In retail banking, there was growth in hiring for positions with a commercial and product development scope. However, the improving economic outlook meant that hiring in restructuring and arrears management declined over the year. There was a notable increase in counter-offers which had an upward impact on salaries in 2015, particularly among those with two to four years experience. We expect this trend to continue in We also anticipate a steady need for fund accounting, investor services and trustee professionals, with demand outweighing supply in many cases. For contract positions, completion bonuses will become a key factor in retaining staff for the duration of a contract as the market continues to offer attractive permanent employment options. Due to more intense competition, hiring managers will need to think laterally when considering the skills required for specialist roles. Candidates will be attracted by career development opportunities, so employers should offer clear career progression coupled with competitive remuneration packages. COMPLIANCE The compliance jobs market was steady in 2015, with demand increasing particularly for professionals in the investment management, insurance, retail banking, asset servicing and professional services sectors. This was attributable to both business growth and ongoing regulatory developments driving the need for additional resources. In 2016, the hiring focus for many organisations will relate to conduct of business regulation. Carrying on from 2015, the most sought-after skill sets will revolve around AIFMD, AML, CPC, MiFID and data protection, with new demand for candidates with CCMA and the SME lending code. With many firms under pressure to meet regulatory demands, requirements will also rise for temporary compliance professionals to assist with the implementation and monitoring of new and existing regulations. Salaries will increase in 2016 due to the multitude of new regulations being issued domestically and at European level. The continued trend of counter-offers will also put further upward pressure on salaries. If current market conditions hold, strong candidates will receive multiple job offers, and employers A shortage of specialist professionals will remain a critical issue in Qualified accountants with up to five years experience will be highly sought after. Completion bonuses will become key in retaining contract staff as the market continues to offer attractive permanent employment opportunities. Hiring managers are advised to offer compensation and benefits in line with the market coupled with clear career progression. 101 Robert Walters Global Salary Survey 2016

103 Ireland should be prepared to offer enhanced salary packages and additional benefits to secure top talent. ENGINEERING, SUPPLY CHAIN & PROCUREMENT In mid-2015 Ireland s construction sector appeared to move out of stagnation, resulting in the fastest expansion rate since November We saw demand increase for labour resources within the areas of procurement, supply chain and engineering. The main industries with recruitment requirements included FMCG and pharmaceuticals. Increasing consumer demand is driving an ongoing need for operational and logistics staff in warehousing, transport and distribution, and we expect this demand to continue into Procurement professionals will also be popular hires and forthcoming large infrastructure projects mean that candidates with demonstrable experience will be sought after in the construction industry. Export demand means manufacturing levels remain high, so we expect a steady requirement for supply chain management in the food and pharmaceutical industries. Emerging candidate shortages will lead to higher remuneration packages across the board, including the return of incremental salary increases among organisations that have not awarded rises for some years. INFORMATION TECHNOLOGY Hiring levels increased within IT in 2015 as Ireland continued to gain a global reputation as a technology hub. Due to the high levels of demand, companies sought to recruit junior and mid-level professionals with a view to developing them for the future. Meanwhile, demand for senior candidates such as programme, senior project and PMO managers was often met by contract hiring due to the business-critical nature of these appointments. The most sought-after professionals included data analysts and BI consultants, while the search for heightened efficiency meant business process analysts and project managers were also popular hiring choices. In addition, Dublin s emergence as a centre for new technology led to a steady demand for programmers, QA testers and solutions architects. These trends look likely to continue in 2016, when salaries will also rise due to an ongoing shortage of readily-available IT talent. LEGAL In 2015, the private practice sector experienced increased demand in corporate, funds, banking and property, with the strongest demand at the one to five year post-qualification level. There was continued demand for in-house solicitors too, particularly for those with commercial law and data privacy expertise in the technology sector. We also witnessed a significant demand for qualified solicitors with experience in funds and regulatory law. Additionally, given the increase in funds being listed, recruitment within the area of listings and registrations grew vastly. A number of organisations that did little or no hiring during the recession started to do so once more. Most legal hiring throughout 2015 was at junior and mid-levels, making up for the lack of hiring at these levels during the recession a trend we expect to continue in There was also a significant shortage of lawyers with the required skill sets in almost every sector. The need to turn processes around quickly and make attractive offers to candidates proved to be vital in 2015, and this will certainly continue in Hiring managers will also need to consider the strong likelihood of counter-offer and multiple-offer situations. We expect employers will not only increase salaries but will also focus on expanding benefits packages, which have, in private practice in particular, traditionally not included pension or healthcare elements. SALES & MARKETING Companies built their sales and marketing teams more rapidly during 2015 than in recent years, with a particular focus on professionals with digital marketing and data analysis skills. In addition, product development and marketing communications skills were highly sought after, particularly in the finance and insurance industries. Within FMCG, there has been a move towards recruiting category management professionals who can give sales and marketing colleagues data-driven insights. This trend will continue in There will be a shortage of candidates for mid to senior marketing positions in 2016 and as a result we expect to see a return to bonuses and other performance-based incentives. As the economy continues to improve, staff retention will be a main focus for employers and we also anticipate an increasing prevalence of benefits being offered alongside the basic salary. SECRETARIAL & BUSINESS SUPPORT Economic recovery and a drive for new business were the key factors behind a very busy jobs market for secretarial candidates in 2015, particularly in the banking, financial services and legal sectors. An increase in candidate confidence, combined with extra benefits being offered by employers seeking top talent, prompted movement in the support jobs market, which we anticipate will continue in With competition for skills increasing, companies are now considering graduates with strong academics for administrative positions. Salaries will remain largely similar to 2015, although there will be some flexibility for more-experienced candidates. We predict sustained growth in secretarial and business support staffing across all industries and, in particular, increased demand for administrative personnel in the real estate sector. To secure the best talent in 2016, competitive salaries combined with additional benefits, such as training opportunities, will be key. Ireland 102

104 DUBLIN ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Financial Services Finance Director k k Financial Controller 80-95k k Head of Internal Audit k k FP&A Manager 60-75k 75-85k Project Accountant 60-80k 60-80k Internal Auditor 50-65k 50-75k Financial Accountant 50-65k 50-65k Management Accountant 50-65k 50-65k Financial Analyst 45-60k 50-65k Newly-qualified Accountant 45-50k 45-52k Part-qualified Accountant 30-45k 30-45k Commerce & Industry Finance Director (MNC) k k Finance Director (SME) k k Financial Controller k k Head of Internal Audit k k FP&A Manager 60-75k 70-80k Financial Analyst 50-60k 50-65k Financial Accountant 50-60k 50-65k Management Accountant 45-55k 50-60k Newly-qualified Accountant 45-50k 50-55k Payroll Manager 45-55k 50-60k Credit Control Manager 50-65k 50-65k Accounts Payable Manager 50-65k 50-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 103 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

105 DUBLIN BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER DAY EUR ( ) Fund Administration Head of Fund Accounting k k Fund Accounting Manager 55-80k 55-80k Fund Accounting Supervisor 42-48k 42-48k Fund Accountant 27-42k 27-42k Trustee Manager 55-85k 55-85k Trustee Associate 28-42k 28-42k Head of Transfer Agency k k Transfer Agency Supervisor/Team Leader 40-50k 40-50k Transfer Agency Administrator 28-40k 28-40k Client Services Administrator 28-38k 28-38k Insurance Senior Actuary k k Actuary (newly-qualified) 40-80k 40-80k Senior Underwriter 55-85k 55-85k Junior Underwriter 35-50k 35-50k Claims Manager 40-70k 40-70k Claims Handler 25-35k 25-35k Asset Management Senior Fund/Portfolio Manager k k Senior Investment Analyst k k Investment Analyst 40-70k 40-70k Treasury & Securities Trading Senior Research Analyst k k Research Analyst 40-70k 40-70k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Ireland 104

106 DUBLIN BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER DAY EUR ( ) Corporate/Commercial Banking Senior Relationship Manager k k Relationship Manager 60-90k 60-90k Loans Administration Officer (QFA) 28-35k 28-35k Corporate Finance & Advisory Corporate Finance Director k k Corporate Finance Manager k k Corporate Finance Executive 40-60k 40-65k Wealth Management Senior Private Client Portfolio Manager k k Private Client Portfolio Manager 60-80k k Retail Banking Head of Product k k Product Manager 50-80k 50-85k Risk Chief Risk Officer k k Divisional Head of Risk k k Senior Risk Manager k k Risk Manager 55-75k 55-80k Middle Office & Operations Middle Office/Operations Manager 55-80k 55-80k Middle Office/Operations Analyst 35-55k 35-55k Arrears & Restructuring ASU Agent (QFA) 30-42k 32-42k Corporate Restructuring Manager 50-65k 50-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 105 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

107 DUBLIN COMPLIANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Chief Compliance Officer k k Divisional Head of Compliance k k Senior Compliance Manager k k Compliance Officer/Manager 55-85k 60-90k Compliance Analyst 40-50k 45-60k Compliance Administrator/Assistant 25-40k 28-45k MLRO k k AML/Financial Crime Manager 55-85k 60-90k AML Analyst 35-55k 40-60k AML Administrator 25-35k 28-40k Fraud Manager 60-80k 65-90k Data Protection Officer k k ENGINEERING, SUPPLY CHAIN & PROCUREMENT ROLE PERMANENT SALARY PER ANNUM EUR ( ) Supply Chain Manager 70-90k 75-95k Procurement/Purchasing Manager 60-85k 65-90k Demand/Supply Planner 40-55k 45-60k Warehouse Manager 45-60k 45-65k Production Manager 50-70k 55-75k Operations Manager 65-85k 65-90k Engineering Manager 70-90k 75-95k Quality Manager 60-75k 60-80k Facilities Manager 50-65k 50-70k Project Manager 50-70k 50-75k Project Engineer 40-55k 40-60k Health & Safety Manager 50-65k 50-70k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Ireland 106

108 DUBLIN INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM EUR ( ) DAY RATE EUR ( ) IT Director k k IT Manager k k Programme Manager k k Project Manager 75-90k k Business Analyst 45-75k 50-80k Network Engineer CCNA - CCIE 35-90k 35-90k Net/C# Developer 55-75k 55-80k Java/J2EE Developer 60-75k 60-80k Senior Technical Architect 75-95k k Web Designer 45-65k 50-70k IT Helpdesk 30-40k 35-45k QA & Testers 35-70k 35-70k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 107 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

109 DUBLIN LEGAL ROLE PERMANENT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER DAY EUR ( ) Private Practice Salaried Partner 150k+ 150k+ Senior Associate k k Associate (3-8 yrs' exp) 70-95k 75-95k Associate (1-3 yrs' exp) 50-75k 55-75k In-house General Counsel k k Senior Legal Counsel (8+ yrs' exp) k k Legal Counsel (4-8 yrs' exp) 60-85k 70-90k Legal Counsel (1-4 yrs' exp) 50-75k 55-75k Company Secretarial Director of Company Secretarial k k Company Secretarial Manager 55-75k 55-75k Listings Executive 35-50k 35-55k Company Secretarial Assistant 30-50k 35-55k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Ireland 108

110 DUBLIN SALARIES SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM EUR ( ) Marketing Director k k Sales Director k k Head of Communications k k Sales Manager 70-90k k Consumer Insights/Activation Manager 65-95k k Channel Manager 55-75k 55-75k Brand Manager 50-75k 50-80k Category Manager 45-65k 50-70k Marketing Executive 30-45k 30-45k Field Sales Representative 25-35k 25-35k SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM EUR ( ) RATE PER HOUR EUR ( ) Customer Service Manager 35-50k 35-50k Customer Service Team Leader 30-36k 30-38k Bilingual Customer Service Agent 24-32k 25-32k Customer Service Agent 22-30k 22-32k Executive Assistant 40-50k 40-50k Personal Assistant 30-40k 30-40k Office Manager 30-40k 30-40k Legal Secretary 26-36k 26-38k Secretary 22-32k 22-32k Receptionist 20-30k 20-30k Administrator 20-30k 20-30k Accounts Assistant 25-35k 25-35k Robert Walters Global Salary Survey 2016 NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary Survey

111 Luxembourg RECRUITMENT REMAINED STEADY DURING 2015 WITH LUXEMBOURG MAINTAINING ITS COMPETITIVE JOB MARKET, AND INCREASED GDP, DESPITE A RELATIVELY HIGH UNEMPLOYMENT RATE. HOWEVER, EMPLOYMENT RATES IN LUXEMBOURG ARE GROWING FASTER THAN THE EUROPEAN AVERAGE INSIGHT Luxembourg continued to open its borders to skilled foreign professionals to compensate for talent shortages within its local labour force. In fact, employment rates of cross-border workers grew more than for local resident workers during This created an international, multicultural environment, with foreign professionals expected to be fluent in English. Additional French and German language skills were also an advantage. Recruitment activity in the second half of 2015 exceeded that of the first half, with recruitment of accounting and finance, banking and financial services, IT, manufacturing and compliance professionals particularly dominant EXPECTATIONS In 2016 we expect to see continued talent shortages, as employment rates rise. In particular, we anticipate that the banking, financial services and insurance sectors will become more dynamic. In line with market activity and economic growth across Europe, these sectors have been kept relatively lean in recent years. However, as the economy continues to grow, we re likely to see recruitment activity rise consistently to mirror this, particularly within banking. In each of these sectors, companies will be looking to recruit specialist professionals. Hiring within IT grew substantially year-onyear and we expect recruitment to continue at a strong rate. Mirroring global trends, as companies keep innovating their IT systems, professionals with big data and cloud services skills will continue to be in demand. There is currently a shortage of such candidates across all sectors and we expect this to persist in The banking sector is demonstrating a strong trend of digitalisation, so IT professionals with the requisite skills to accommodate this will be particularly sought after. As new regulations continue to be introduced on a regular basis, there will also be an ongoing need for compliance and risk professionals, and hiring activity within this area is likely to remain strong in Similarly, with many company headquarters based in Luxembourg, accountancy remains an in-demand skill set and one of the most important hiring sectors something that will continue for the foreseeable future. Salaries in 2015 remained stable, with 2-3% growth on average across the board. This is likely to continue in 2016, however, professionals with niche skills and those filling in-demand roles will be able to command more. Competitive salaries and the opportunity to progress rapidly within a company will be the main drivers for moving jobs in BANKING & FINANCIAL SERVICES Banks and financial services firms have been relatively cautious in their hiring outlook in recent years, in line with the wider global trend. However in 2015, hiring activity was strong, and we anticipate further demand for skills as the markets continue on this positive trajectory. Compliance and risk professionals will remain popular hires due to ongoing governance and regulatory requirements. Luxembourg 110

112 Luxembourg Luxembourg OVERVIEW As the largest private banking finance centre within the eurozone, asset and wealth management were also key recruitment areas in 2015 and hiring is likely to remain strong. Professionals with international experience working for global organisations will be particularly in demand. Luxembourg s impressive quality of life and competitive salaries remain some of its most compelling attractions for foreign workers. To compensate for skills shortages in the local market, employers should capitalise on opportunities to attract foreign workers by focusing on their employer brand. Companies will need to be progressive and proactive in reaching out to foreign professionals. We expect banking and financial services salaries to show moderate increases in Candidates with the most sought-after skills, for example compliance and risk, will be able to demand the greatest compensation. COMMERCE & INDUSTRY Commerce and industry remains a key sector in Luxembourg from transport and logistics, to information and communication technology (ICT), life sciences and the automotive industry. The sector often struggled to recruit skilled professionals in finance, economics, law and accounting regularly finding itself overshadowed by the lure of the country s financial services sector. Accounting will continue to be an important area of recruitment to satisfy the complex fiscal demands of many companies based in Luxembourg. Finance professionals with international exposure and experience working for a Big 4 company will be particularly sought after. With Luxembourg making significant investments to become a global leader in cloud services, ICT remained a strong area within commerce and industry in Luxembourg. Project management, software and training were key areas of opportunity and those with specialist technological expertise will be in demand through In manufacturing, recruitment was noticeably active during 2015, with hiring growth up significantly compared to the previous year. With such strong figures we expect this trend to continue in the coming year. Luxembourg s standard of living and salaries offered were highly competitive in Offering lucrative compensation will be key to securing the top job movers within the country as salary is a bigger driver in Luxembourg than other European locations. However, to recruit the best in 2016 companies should also focus on the attractions of living in Luxembourg. In addition, it s worth clearly communicating opportunities for career development and progression aspects that are more important to Luxembourg s foreign workforce than work-life balance. Salaries in 2015 remained stable, with 2-3% growth on average across the board. KEY TRENDS Compliance and risk professionals will remain popular hires due to ongoing governance and regulatory requirements. As the largest private banking finance centre within the eurozone, asset and wealth management were key recruitment areas in 2015 and hiring is likely to remain strong. Accounting will continue to be an important area of recruitment to satisfy the complex fiscal demands of many companies based in Luxembourg. 111 Robert Walters Global Salary Survey 2016

113 LUXEMBOURG SALARIES BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-5 YRS' EXP 5-10 YRS' EXP 10+ YRS' EXP CFO k k Head of Treasury k k k k Head of Fund Administration k k Finance Manager/Director k k k k Accounting Manager/Director k k k k Fund Manager 50-70k 50-70k k k k k Fund Analyst 45-70k 45-70k 55-85k 55-85k k k Private Banker 65-85k 65-85k k k k k Internal Audit 50-75k 50-75k 75-95k 75-95k k k Accountant 55-65k 55-65k k k k k COMMERCE & INDUSTRY ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-5 YRS' EXP 5-10 YRS' EXP 10+ YRS' EXP CFO/Finance Director k k k k Internal Audit 50-75k 50-75k k k k k Financial Analyst 45-70k 45-70k 70-90k 70-90k k k Accounting & Reporting Manager 45-75k 45-75k 70-90k 70-90k k k Financial Controller 55-65k 55-65k 60-80k 60-80k k k Financial Accountant 50-70k 50-70k 65-90k 65-90k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary Luxembourg Survey

114 The Netherlands Amsterdam Eindhoven Rotterdam THE DUTCH RECRUITMENT MARKET WAS ON AN UPWARD TRAJECTORY IN 2015, FOLLOWING SEVERAL YEARS OF REDUCED GROWTH. WITH A MORE BUOYANT ECONOMY AND LOWER INTEREST RATES, CONSUMER CONFIDENCE WAS ON THE RISE. In previous years, fears about job security made professionals tentative to move roles, however, the strengthening economy led to increased confidence in Changes in Dutch labour laws, which essentially limit repeat temporary contracts, also increased the demand for hiring temp employees indirectly, driving a rise in the demand for self-employed interim professionals and people working in temp contracting. We noted an increased need for professionals to support businesses, in roles from supply chain to secretarial, pointing to a broader-based recovery. In 2016, we expect three specific trends to continue: anticipated high demand for contract candidates, stability within the interim market and an increased number of permanent roles INSIGHT Employers looking to hire more skilled professionals in contract or interim positions found that they were in short supply relative to demand in Improvements in the permanent recruitment market were not quite as positive but there was nonetheless a steady increase in vacancies. In particular, there were more opportunities for junior, degree-educated professionals in the finance and accounting space. In response to this trend, many firms sought to nurture their top talent, making it difficult to tempt people away from current roles. There was little movement across managerlevel positions in the 100k+ bracket as limited demand resulted in static salaries, and, as a result, little incentive to move. After several slow years, we observed a resurgence in the banking sector, with higher demand for both permanent and interim risk and compliance professionals. However, there remains a lack of high-potential candidates within the country EXPECTATIONS We anticipate a general sentiment of optimism among hiring managers across all areas in In particular, new financial regulation will drive a focus on sourcing specialists in risk and compliance, as well as tax accounting professionals who have knowledge of changes to restructuring legislation. Candidates across the market will be focusing on the benefits of moving roles, both for their careers and in terms of work-life balance. In turn, HR professionals who can structure compensation and benefits packages, and those that can improve overall corporate recruitment, will be in demand. For employers, this means that the recruitment process needs to be fast and flawless to attract and secure the best talent. 113 Robert Walters Global Salary Survey 2016

115 In 2016, we expect three specific trends to continue: anticipated high demand for contract candidates, stability within the interim market and an increased number of permanent roles. + 17% 47% (EIS) (EJI) Year-on-year increase in the number of jobs advertised in the Netherlands Dutch professionals who stated a lack of career progression as the main reason for leaving a role The Netherlands KEY FINDINGS Dutch professionals who believe they re paid their market value Dutch professionals who would consider moving abroad for better career opportunities We anticipate a general sentiment of optimism among hiring managers across all areas in Employers should remember that compensation focused on learning and education, work-life balance and flexibility, will be more important in recruiting and retaining talent in % (EIS) 30% + 32% (EJI) Year-on-year increase in advertised roles in accounting and finance (EIS) EJI: Robert Walters European Job Index, Q v Q EIS: Robert Walters Employee Insights Survey 2015: 7,000 respondents. The Netherlands 114

116 The Netherlands The Netherlands OVERVIEW ACCOUNTING & FINANCE The strong performance in accounting and finance that began in 2014 continued throughout For the first time since the financial crisis, there was an increase in interim hiring to replace people who had resigned; by contrast, interim hiring in 2014 was mainly project-driven. As a result, candidates had a choice of several assignments as 2015 progressed. The demand for bilingual, junior and educated interim professionals will increase in 2016, particularly for those holding a bachelor s or master s degree or chartered accountants and certified management accountants. There will be greater hiring activity for interim internal auditors within accountancy firms, as well as former Big 4 tax accounting professionals. It is likely that hourly rates for these in-demand roles will rise accordingly. The market for contract roles developed significantly throughout This was primarily driven by increased confidence in economic expectations. As anticipated, the changes to Dutch labour laws affecting probation periods in short-term contracts led to more temp-toperm contracts. The legislation primarily benefits contractors who may previously have moved between assignments with some uncertainty. Consequently the market began shifting away from an employer-driven market, where recruiters have a broad choice of talent, to a candidatedriven one. In 2016 the best candidates will only briefly be in the market for new opportunities they will be offered contracts quickly, and will often have multiple options. This trend should create momentum for employers to speed up their recruitment process and find unique ways to sell their company to candidates. Rates of pay are expected to increase slightly, particularly for well-educated junior finance professionals with all-round experience, accounts payable and accounts receivable specialists with a broad knowledge of specific ERP systems, and experienced payroll officers. Digitisation within finance divisions is driving the need for well-educated personnel with proven skills in financial IT systems, both on a project and permanent basis. Whereas in 2015 activity resulted in more opportunities at junior and middle management level, in 2016 there will be more movement among senior positions. Organisations will look to reinforce teams with business-aligned controllers, and high-potential professionals who may have experienced slower than expected career development in a postcrisis economy will be impatient to move roles. These candidates will have the best choice of available opportunities. Employers should remember that compensation focused on learning and education, work-life balance and flexibility will be more important in recruiting and retaining talent in BANKING & FINANCIAL SERVICES The market for both permanent and interim roles in banking and financial services grew in Interim roles were offered primarily within projects driven by new regulations, such as Markets in Financial Instruments Directive (MiFID) I and II, Market Abuse Directive (MAD), OTC derivatives, central counterparties and trade repositories (European Market Infrastructure Regulation) and Capital Requirements Regulation and Directive (CRD) IV. Subsequently, there was increased competition for interim risk and compliance experts. These regulations also created more permanent roles for specialists in regulatory reporting, compliance, risk management and internal control, particularly for those with two to five years experience. In 2016, we envisage that the banking sector will make a major comeback. Market, financial and operational risk and compliance professionals will be a popular hiring option as a result of increased legislation from the European Central Bank. This will create a variety of roles, both for interim professionals and permanent positions. Ongoing process improvement or outsourcing, and the development of in-house shared service centres are driving change programmes across the banking industry. As a result, operational accounting professionals will need more verbal and advisory skills, and those that can adapt to a new way of working will be particularly popular hiring choices. There remains an overall scarcity of high-potential talent within the banking industry, following several lean years of recruitment, and for certain specific roles companies are choosing to source people abroad, particularly from the UK. Despite this, remuneration will generally remain the same for interim and permanent employees in KEY TRENDS In 2016 the best candidates will only briefly be on the market for new opportunities they will be offered contracts quickly, and will often have multiple options. There remains an overall scarcity of high-potential talent within the banking industry, following several lean years of recruitment, and for certain specific roles companies are choosing to source people abroad, particularly from the UK. A significant increase in export activities in the Netherlands had a major influence on the recruitment market in 2015, with many roles available in supply chain, export and IT support particularly. With more multinationals seeking to retain full control over their tax position, tax risk was a significant theme last year. The resulting demand for tax accounting expertise is set to continue into Robert Walters Global Salary Survey 2016

117 However, there will be increased pressure to fill key roles with specific requirements for transition managers, regulatory specialists (MiFID II) and subject matter experts. BUSINESS SUPPORT A significant increase in export activities in the Netherlands had a major influence on the recruitment market in 2015, with many roles available in supply chain, export and IT support particularly. Businesses in other countries were looking to the Netherlands for supply chain professionals to achieve cost reductions and make sure all processes within organisations were as lean as possible. In IT, employers were looking to find candidates with cloud-based solutions experience as fast as possible. A key theme throughout the year was the demand for specific multilingual expertise across roles, from customer service, to supply chain and secretarial support. French and German-speaking candidates were a particularly key hiring priority. In 2016, it is likely that employers will be demanding more specialist skill sets, but they will struggle to find them in the overstretched market. Hiring will also intensify for IT support professionals, where we anticipate further talent shortages. We expect there will be increased mobility among supply chain and secretarial roles, with candidates open to new opportunities, particularly those that offer greater personal development. Employers will need to be aware that securing a candidate s commitment to an offer may be more difficult it is likely that candidates will have multiple options, and will be forced to make a decision quickly. With this in mind, we encourage employers to consider how they can better appeal to top talent. In general, remuneration in this sector will remain stable in 2016, with the only notable increases for multilingual specialists moving jobs or receiving a promotion. HUMAN RESOURCES In 2015 there was an overall increase in mobility within the Dutch jobs market. This was good news for HR professionals across various sectors, who were then required to focus on growing their talent acquisition strategies and enhancing corporate recruitment teams. The threat of losing in-house talent to competitors in this reinvigorated recruitment market also meant HR teams were tasked with improving compensation and benefit structures, with a focus on creating effective retention strategies. As a result, HR professionals with specialist legal skills were in high demand to draft contracts, calculate salaries and compare extra legal benefits, ensuring all changes to compensation and benefits structures were in line with labour law. We expect that in 2016 there will be greater demand for HR professionals, particularly those with expertise in talent acquisition and development, corporate recruitment and compensation & benefits packages. A shortage of these specialists will drive slight increases in salary, but for general HR positions remuneration will remain similar to LEGAL There was significant growth in vacancies in the legal sector in 2015, mainly in the Randstad. The most urgent hiring priorities were specialists in banking, compliance, mergers and acquisitions, IT and contract law, both in corporate and in private practice. In private practice and notarial law there was strong demand for professionals with at least three years experience. In 2016, we anticipate a skills shortage of notarial lawyers in corporate and real estate particularly, in light of the positive changes to the housing and commercial property market. In corporate business, there will be continued desire among senior legal counsels, general counsels and managers to move to new roles. This stems from the trend in 2015 for legal professionals to move from private firms to inhouse roles with aspirations for a greater worklife balance, and declining interest in becoming a partner. In 2016, this trend will increase the demand for commercial lawyers with strong business acumen, owing to their ability to advise in-house teams. IT law specialists will also be highly sought after to manage issues including cyber security and data protection. In line with the rest of the sector, the interim legal market improved. There was a significant increase in demand for interim legal counsels and notaries. Demand for interim lawyers outstripped supply and many worked on multiple assignments simultaneously we anticipate the same for Despite an uncertain future because of rising overheads, developments in the Trust sector in 2015 will lead to an increase in the number of vacancies available in Overall, 2016 will see small increases in remuneration, fringe benefits and bonuses across the country. SALES & MARKETING The recruitment market for sales professionals did not see significant change in 2015, with little movement in salaries. We anticipate that increased export activity, which makes sales processes more complex, will result in a surge of demand in 2016 for higher-educated, developed sales professionals who are able to act as business partners. Within marketing, there was a vast increase in job movements for professionals, making the supply of skilled candidates scarce in the coming year. Employers will be looking beyond traditional marketers and seeking candidates with knowledge of digital media and big data, offering higher compensation packages for these specialists. TAX & TREASURY In 2015 there was greater demand for transfer pricing specialists, but with reduced mobility at board level. The year saw constant demand for BTW specialists too, especially those with knowledge of automation. With more multinationals seeking to retain full control over their tax position, tax risk was a significant theme last year. The resulting demand for tax accounting expertise is set to continue into Many former Big 4 tax accounting employees will move into the private sector, which means employers will have a good choice of candidates, particularly in interim roles. Salaries in the tax sector will remain stable in 2016, with the exception of transfer pricing specialists. The Netherlands The Netherlands 116

118 NETHERLANDS ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM EUR ( ) 1-5 YRS' EXP 5-9 YRS' EXP 9+ YRS' EXP Planning FP&A Manager 60-90k 60-90k k k M&A Manager/Director k k k k+ Business Analyst 45-65k 45-65k 65-75k 65-75k 75-90k 75-90k Financial Analyst 40-60k 40-60k 60-70k 60-70k Governance Internal Audit Manager/Director k k k k+ Internal Auditor 50-70k 50-70k 70-85k 70-85k k k Risk Analyst/Manager 45-60k 45-60k 60-80k 60-80k k k Control Group Controller/FD k k k k+ Division Controller k k k k Business Controller 45-65k 45-65k 65-90k 65-90k k k Financial Controller 45-65k 45-65k 65-90k 65-90k 80-95k k Accounting VP Finance/CFO 150k+ 150k+ Shared Services Manager k k k k AP/AR/GL Team Leader 45-60k 45-60k 60-65k 60-65k 65-70k 65-70k Credit Controller 40-50k 40-50k 50-60k 50-60k 60-70k 60-70k Finance Manager 50-80k 50-80k k k Financial Accountant 40-50k 40-50k 50-55k 50-55k 55-65k 55-65k Management Accountant 40-60k 40-60k 60-70k 60-70k 'Big 4' Consultancy 45-65k 45-65k 65-95k 65-95k k k Auditor 45-65k 45-65k 65-95k 65-95k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 117 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

119 NETHERLANDS BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM EUR ( ) 1-5 YRS' EXP 5-10 YRS' EXP 10+ YRS' EXP Finance & Control Manager 45-65k 45-65k 65-90k 65-90k k k Finance Control 45-70k 45-70k 70-90k 70-90k k k Business Control 50-65k 50-65k 65-80k 65-80k k k Financial Analyst 45-60k 45-60k 60-80k 60-80k 75-85k 75-85k Audit, Risk & Compliance Head of Compliance k k k k Compliance Officer 35-60k 35-60k k k k k Risk Manager (Market & Credit Risk) 50-70k 50-70k k k k k Operational Risk Manager 35-65k 35-65k k k k k Auditor 55-70k 55-70k k k k k Quantitative Analyst 40-70k 40-70k k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Netherlands 118

120 NETHERLANDS INTERIM MANAGEMENT ROLE INTERIM RATE PER DAY EUR ( ) Accounting & Finance VP Finance/CFO Finance Manager Team Leader Financial Accountant Senior GL Accountant Operational AP/AR Officer Payroll Officer Auditor (RA/ACCA) Corporate Recovery Expert Planning FP&A Manager Business Analyst Financial Analyst Control Group Controller Financial/Business Controller Assistant Controller Banking & Financial Services Risk Manager Compliance Manager Projects Programme Manager Transition Manager Project Manager Service Delivery Employee NB: Interim management figures are daily rates and do not include benefits/bonuses. 119 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

121 NETHERLANDS LEGAL PERMANENT ROLE PERMANENT SALARY PER ANNUM EUR ( ) 1-4 YRS' EXP 4-7 YRS' EXP 7+ YRS' EXP In-house General Counsel 125k+ 125k+ Manager Legal Affairs 85k+ 85k+ 100k+ 110k+ Legal Counsel 45-60k 45-60k 57-80k 60-85k k k Compliance Officer 47-55k 50-60k 55-90k 60-90k k k Private Practice US & UK Firms - Partner 250k+ 250k+ Dutch Firms - Partner 225k+ 250k+ US & UK Firms - Associate 45-70k 45-70k k k k k Dutch Firms - Associate 40-65k 40-65k 60-90k 60-90k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. INTERIM ROLE INTERIM RATE PER DAY EUR ( ) Interim Lawyer (Private Practice) Specialised Legal Counsel Compliance Contract Manager Civil Notary Legal Counsel NB: Interim figures are daily rates and do not include benefits/bonuses. 9 Robert Walters Global Salary Survey 2016 Netherlands 120

122 NETHERLANDS SALARIES SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM EUR ( ) 2-5 YRS' EXP 5-10 YRS' EXP 10+ YRS' EXP Sales Country Manager k k Commercial Director k k k k Sales Director k k k k National Sales Manager 55-75k 55-75k k k Regional Sales Manager 40-55k 40-55k 45-75k 45-75k k k Account Manager 30-45k 30-45k 40-70k 40-70k 60-90k 60-90k Marketing Marketing Director 60-90k 70-95k k k Marketing Intelligence Manager 50-85k 55-90k k k Brand/Category Manager 35-50k 35-50k 50-65k 55-70k 65-90k 65-90k Trade Marketing Manager 35-50k 35-50k 50-70k 55-75k 65-85k 65-85k Online Marketer 40-55k 40-55k 55-75k 60-80k 60-80k 65-85k Marketing Analyst 35-50k 35-50k 50-65k 55-70k 60-85k 60-85k HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-9 YRS' EXP 9+ YRS' EXP HR Director 90k+ 90k+ Compensation Manager 75-90k 75-95k k k HR Manager 52-65k 52-65k 65-90k 65-90k k k Recruitment Manager 50-60k 50-65k 60-75k 65-80k k k HR Advisor 42-55k 42-55k 55-72k 55-72k 70-90k 70-90k Corporate Recruiter 40-55k 42-60k 55-65k 60-75k 67-75k 75-90k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 121 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

123 NETHERLANDS TAX & TREASURY PERMANENT ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-6 YRS' EXP 6-9 YRS' EXP 9+ YRS' EXP Treasury Treasurer k k k k Corporate Finance Manager 70-90k 70-90k k k Assistant Treasurer 45-70k 45-70k 70-85k 70-85k k k Treasury Analyst 50-70k 50-70k 70-90k 70-90k 70-90k 70-90k Treasury Accountant 50-70k 50-70k 70-85k 70-85k 85-95k 85-95k Cash Manager 45-70k 45-70k 70-80k 70-80k 80-95k 80-95k Tax Tax Director (Europe) k k k k Tax Manager 55-80k 55-80k k k k k Tax Compliance 55-75k 55-75k 75-85k 75-85k k k Tax Consultant 50-70k 50-70k 70-95k 70-95k k k Tax Accountant 50-70k 50-75k 70-80k 75-85k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. INTERIM ROLE INTERIM RATE PER DAY EUR ( ) Tax Accountant Treasury Manager Tax Manager Cash Manager NB: Interim figures are daily rates and do not include benefits/bonuses. 11 Robert Walters Global Salary Survey 2016 Netherlands 122

124 NETHERLANDS CONTRACT BUSINESS SUPPORT ROLE CONTRACT SALARY PER ANNUM EUR ( ) Secretarial & Management Support Executive & Personal Assistant 35-52k 35-53k Office Manager 30-45k 30-45k Legal Secretary 26-40k 28-40k HR Support 25-36k 25-36k Management Assistant 24-38k 24-38k Receptionist 23-31k 23-31k Data Entry 23-31k 23-31k Starter (Bachelor/Master) 20-32k 20-32k Sales & Supply Chain Operations Manager 36-52k 36-52k Demand & Supply Chain Planner 35-58k 35-58k Logistics Analyst/Third Party Logistics 35-58k 35-58k Supply Chain Co-ordinator 30-42k 30-42k Inside Sales Support 25-45k 25-45k Export Associate 25-40k 25-42k Sales Representative 23-42k 23-42k Order Management Specialist 25-38k 25-38k Customer Service Representative 23-33k 23-33k IT Support System Administrator 30-60k 30-60k Application Administrator 30-60k 30-60k Network Administrator 30-60k 30-60k IT Helpdesk (1st/2nd/3rd line) 25-40k 25-40k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 123 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

125 NETHERLANDS CONTRACT FINANCE ROLE CONTRACT SALARY PER ANNUM EUR ( ) Accounts Payable Team Leader 35-50k 40-50k Accounts Payable Specialist 30-40k 30-40k Accounts Payable Administrator 23-33k 25-35k Accounts Receivable Team Leader 38-50k 40-50k Accounts Receivable Specialist 30-40k 30-40k Credit Controller 23-33k 25-35k Junior Controller 33-40k 33-40k Senior Financial Administrator 35-40k 35-40k Payroll Officer 40-50k 40-50k Starter (Bachelor/Master) 30-40k 30-40k Data Entry 20-30k 20-30k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 Netherlands 124

126 Spain Barcelona Madrid SPAIN S STRENGTHENING ECONOMIC PERFORMANCE IN 2015 MADE IT A GOOD YEAR FOR THE RECRUITMENT MARKET. Unemployment fell fast; economic growth was above 3% year-on-year, Spain s critical tourism sector had a record year and Moody s credit agency upgraded Spain s rating from negative to positive INSIGHT Looking at the total number of jobs advertised across the Spanish recruitment market in 2015, sales, IT and manufacturing experienced the highest volumes. In terms of growth rate, real estate and financial services were the strongest performers. The latter sectors had been hard-hit during the downturn and it was a very positive sign for the market that we started to see a return to growth. Hiring activity across banks was active, with particular demand for senior analysts and professionals experienced in mergers & acquisitions and private equity. Across the back office, compliance expertise was sought after due to tightening EU regulations. We also saw growth in a range of technical positions across insurance; Solvency II actuaries, risk and pricing actuaries, underwriters and key account managers were all in demand. 125 Robert Walters Global Salary Survey 2016 In accountancy and finance there was high demand for business partners, controllers and financial planning analysts (FP&A). Companies were looking for strong middle and senior-level technicians with communication skills and business acumen to manage stakeholders. In a positive sign for the market, newly-qualified accountants were sought after, especially across the FMCG and pharmaceutical sectors. Digital was a key theme across sectors. Online marketing and customer relationship management professionals were needed by the majority of companies to turn information into customer loyalty. The huge growth in digital technology meant that IT, CRM, big data and information security specialists were in high demand. Engineering, procurement and construction expertise was also in high demand, particularly within renewable energy because of Spain s excellent global reputation in this area EXPECTATIONS Hiring levels are expected to be similarly positive in With predictions for economic growth based at 2.5% or higher and thousands of new roles forecast, this upward trend should continue for the next two years at least. We expect to see marginal salary increases across the board, with the biggest increases naturally reserved for the most sought-after skill sets. Data scientists, CRM experts and experienced engineering professionals could command 20% rises. Financial business partners and actuaries may also find their salaries increasing by 10%. Employers will need to emphasise both a positive work environment and a complete salary package, encompassing as many benefits as possible, to secure the best professionals in Incentives like flexible working and worklife balance in general will also play a greater significance when candidates consider career moves; added extras like car options will also be important. With greater confidence in the market, employees desire to have clear career development plans will also be a key factor in their role choice. As demand for specialist professionals grows in 2016, hiring managers may need to be more open-minded about the geographical scope of their hiring. In an increasingly global market, candidates of all nationalities can add value and should be considered as a natural part of the selection process.

127 Employers will need to emphasise both a positive work environment and a complete salary package, encompassing as many benefits as possible, to secure the best professionals in % (EJI) Year-on-year increase in the number of jobs advertised in Spain 60% (EIS) Spanish professionals who would accept a lower fixed salary with greater benefits/bonuses Spain KEY FINDINGS We expect to see marginal salary increases across the board, with the biggest increases naturally reserved for the most sought-after skill sets. (EJI) (Salary Survey 2016) TOP THREE SECTORS BY ADVERTISED JOB VOLUME Sales Information technology Manufacturing 20% SALARY INCREASES EXPECTED FOR THESE SKILL SETS Information security Data science Digital was a key theme across sectors. Online marketing and customer relationship management professionals were needed by the majority of companies to turn information into customer loyalty. (EIS) 4 out of 10 professionals in Spain believe they are paid less than their market value EJI: Robert Walters European Job Index Q v Q EIS: Robert Walters Employee Insights Survey 2015, 7,000 respondents. Spain 126

128 Spain Spain OVERVIEW ACCOUNTING & FINANCE Job volumes grew considerably across finance departments at both multinational and local companies in The finance function continued to evolve and accounting and finance professionals had a much more pivotal role to play in their companies overall business strategy. Financial and business analysts and FP&A managers were therefore in high demand to support the function s increasing contribution to decision-making. The market for newly and part-qualified accountants was active, especially among local conglomerates and companies in the FMCG, pharmaceutical and industrial sectors. Hiring managers also looked for credit control officers who could help chase debts. Audit professionals were in steady demand, but with less appetite from professionals to undertake the travel needed for such roles, many companies struggled to hire strong candidates. Plant controllers were also required to manage the opening of new sites in Spain, developing their efficiency and profitability through business process improvement. In 2016 candidates with FP&A and controlling expertise will remain in high demand. However, hiring managers may struggle to fill these roles as there is a limited supply of specialists with the commercial acumen and communication skills for those roles which partner with the business. Companies will also continue to seek treasury professionals to maintain effective cash flow management. The limited supply of quality candidates means companies should offer a competitive salary package to secure top talent. Mid to senior level professionals in acutely talent-short areas will be looking for salary increments of 10 15%, otherwise an average increase of 8% is expected. Salaries for newly and part-qualified professionals will increase by about 5%. BANKING & INSURANCE In 2015 the credit rating agency, Moody s upgraded Spain s banking system from a negative to a positive for the first time in seven years. International investors once again saw Spain as an attractive option and there was ongoing merger and acquisition activity. This translated into a recovery in the banking sector, and extremely positive developments for the recruitment market. Changes to banking regulations meant that the most sought-after professionals in 2015 were senior analysts, associate merger and acquisitions, private equity, compliance and PBC professionals. With ongoing demand anticipated, salaries are likely to rise between 5% and 10% across the banking sector in Recruitment increased at a slower pace across the insurance sector in However, there were pockets of hiring driven by regulation. With a Solvency II framework largely agreed, technical positions, such as Solvency II actuaries, risk and pricing actuaries, underwriters and key account managers were in high demand throughout the year. In 2016 there are predictions for growth in life insurance, but slower development in other areas. The economic conditions of recent years have significantly impacted on salary increases within insurance, but due in part to the Collective Agreement, these employees will see their salaries rise by up to 2.5% in ENGINEERING The engineering recruitment market continued to consolidate in Large energy infrastructure projects did work in Spain and as Spanish engineers were in demand worldwide, there was a shortage of available talent for renewable energy parks. In the industrial sector there was a clear recovery multinationals opened new headquarters and needed local talent to build teams. Companies that weathered the economic downturn continued optimising their resources, hiring process improvement and supply chain specialists. Business development positions were most in demand to help companies sell their products, build new infrastructure or renovate existing plants. This also drove a greater need for after sales service professionals, operations and maintenance managers. Across the market, candidates were required to be fluent in English. In 2016 there will be a continued search for super-specialists who can help companies optimise their business structures. However, there are very few of these specialists; they are in high demand and will command ever-higher salary increments. Similarly, the salaries of technical sales engineers will see an increase of around 30% in Across the board, senior managers in particular will be looking for an increased salary plus a variable benefits package, and a company that can guarantee them at least a medium-term project. IT & DIGITAL The digital transformation became even more visible in 2015, with an overwhelmingly active market in IT and digital, particularly in the first half of the year. The sector was dominated by two trends: the focus on information security, KEY TRENDS KEY TRENDS In a more global market, candidates of all nationalities can add value and should be considered as a natural part of the selection process. In an increasingly global market, candidates of all nationalities can add value and should be considered as a natural part of the selection process. Overall, a company s digital strategy will be key to its success in 2016, but employers will need to pay to secure talent to help them deliver it. Overall, a company s digital strategy will be key to its success in 2016, but employers will need to pay to secure talent to help them deliver it. International investors once again saw Spain as an attractive option and there was ongoing merger and acquisition activity. International investors once again saw Spain as an attractive option and there was ongoing merger and acquisition activity. 127 Robert Walters Global Salary Survey 2016

129 Spain and on data science. There was an incredibly strong demand for skilled candidates in these areas. This led to significant salary increases of around 20% for information security and data science professionals. In 2016 there will be even more development in the digital space, as more and more companies look to utilise their data profitably retail businesses in particular, will hire professionals to help turn their data into something meaningful and strategic. The growing demand for secure access to information in sectors such as banking or insurance will also drive information security hires. Overall, a company s digital strategy will be key to its success in 2016, but employers will need to pay to secure talent to help them deliver it. SALES & MARKETING In 2015 the growing economy led to an increase in consumption and investment that had a positive effect on the recruitment market for sales and marketing positions. Companies in the retail, consumer goods and services sectors invested in their teams, and professionals became more proactive about moving to new roles. There was demand for senior professionals with experience in export, and increased searches for high-potential junior professionals and sales professionals with greater technical knowledge. TAX & LEGAL During 2015, hiring levels across both law firms and within in-house legal departments increased. A growing number of foreign investors and a real-estate market full of opportunities for institutional investors meant that lawyers specialising in property were in high demand. Reflecting a wider trend across the financial services sector, increasing changes in legislation drove more companies to seek data protection and compliance officers. Hiring for banking and corporate lawyer positions remained stable through the year. Now the sector is recovering we anticipate higher recruitment levels and rising salaries as a result. In 2015, most partners and senior lawyers increased their salaries by around 3% and 5% respectively. We expect companies to maintain similar pay rises next year. The overall trend in sales and marketing is without a doubt focused on the digital world, and in 2016 e-commerce specialists will continue to be in demand. Many more large companies will move towards a business model based on customer loyalty and the marketing strategy. To underpin this purpose, organisations will require more CRM professionals with experience in relationship marketing. With wage freezes and salary decreases the norm during the last few years at both middle and senior management level, the future trend looks more positive, with slight improvements in salaries and other benefits anticipated. Spain 128

130 MADRID Spain ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Generalist Chief Financial Officer k k k k Finance Director - SME 50-60k 50-65k 60-75k 65-85k 75-90k 70-95k Head of Controlling 50-70k 55-80k 65-85k k FP&A Manager 35-50k 35-55k 50-65k 50-70k k k Financial Controller 30-50k 35-50k 50-65k 55-70k 65-90k 70-95k Accounting Manager 35-50k 40-50k 50-65k 55-70k 65-75k 70-85k Treasurer 35-45k 40-50k 45-60k 50-65k 60-80k 65-80k Business Analyst 35-50k 35-50k 50-65k 55-70k 65-80k 70-85k Specialist Plant Controller 35-45k 40-55k 45-65k 55-80k 65-90k 80-95k Internal Auditor 35-50k 35-50k 50-65k 55-75k 65-90k 75-95k Consolidation Manager 35-50k 40-50k 50-70k 50-70k 70-90k 75-90k Project Finance Analyst 40-60k 45-70k 60-80k k k k Strategy Consultant 40-60k 45-60k 60-80k 65-85k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 129 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

131 MADRID Spain BANKING & INSURANCE ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Banking Institutional Sales 45-90k 45-90k k k k k M&A 50-75k 50-85k k k k k Private Equity 50-80k 50-85k k k k k Retail Director 50-90k 55-90k k k Real Estate Asset Manager 45-75k 50-80k k k k k Private Client Adviser 45-60k 45-65k 55-75k 60-80k Head of Operations k k Compliance & AML Officer 50-70k 50-75k k k 100k+ 100k+ Financial Controller 45-65k 45-65k 60-90k 60-90k 100k+ 100k+ Product Manager 45-65k 45-70k 55-80k 55-80k 75-95k 75-95k Credit Analyst 55-70k 55-70k 65-80k 65-85k Middle Office 32-40k 32-42k 40-60k 40-60k 48-75k 50-80k Back Office 25-35k 25-38k 35-55k 35-58k 50-70k 50-70k Insurance Chief Actuary 60-90k k 100k+ 100k+ Actuary 30-45k 30-45k 45-60k 45-65k Senior Underwriter 35-50k 35-55k 55-70k 55-75k 60-80k 60-85k Underwriter 30-45k 30-45k 45-60k 45-65k Claims Manager 55-80k 60-90k 90k+ 90k+ Claims Assistant 30-45k 35-45k 45-60k 50-70k Key Account Manager 35-55k 40-55k 50-80k 55-80k 90k+ 90k+ Audit Manager 40-50k 40-55k 50-60k 50-65k 65-80k 65-85k Senior Auditor 40-50k 45-55k 50-70k 50-70k 70-80k 70-85k Financial Controller 30-40k 35-45k 40-55k 40-60k 60-80k 60-85k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Spain 130

132 MADRID Spain ENGINEERING ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Industry & Supply Chain General Manager/CEO 80-90k k k k Business Development Manager 45-60k 50-70k 60-90k 70-90k k k Sales Engineer/Product Manager 40-50k 35-55k 50-70k 50-75k 70-90k 80-95k QA/QC Manager 40-50k 45-60k 50-60k 50-65k 50-60k 65-80k Industrial/Plant Manager 40-60k 45-60k 60-80k 65-80k k k Production Manager 40-50k 40-60k 50-70k 60-80k 70-90k k Technical Director 40-50k 40-60k 50-70k 60-80k 70-90k k Logistics/Supply Chain Manager 30-40k 35-50k 40-60k 50-65k 60-80k 70-90k Purchasing Manager 30-40k 30-40k 40-55k 40-50k 55-70k 60-80k Maintenance/Facility Manager 30-40k 35-45k 45-65k 45-60k 50-70k 60-80k Infrastructure Project Director 70-80k 80-90k 80-90k k k k Project Manager 75-85k 85-95k 85-95k k k k Site Construction Manager 65-75k 70-80k 75-85k 80-90k k k Planning & Cost Manager 70-80k 70-80k 80-90k 80-90k k k Technical Office Manager 65-75k 75-85k 75-85k 85-95k k k Procurement Manager 50-60k 60-70k 60-70k 70-80k 80-90k 80-90k MEP Manager 60-70k 60-70k 70-80k 80-90k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 131 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

133 MADRID Spain ENGINEERING ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Oil & Gas/Conventional/Mining & Cement Business Development Manager 45-60k 45-60k k k k k Operations Director k k k k Project Director 40-60k 45-65k 65-80k 65-85k k k Engineering Manager 40-60k 40-60k 75-80k 75-80k k k Procurement Manager 45-55k 45-55k 55-65k 55-65k 70-80k 70-90k Process Leader 40-45k 40-45k 50-75k 50-75k 75-80k 75-80k Lead Mechanical Engineer 45-50k 45-50k 55-60k 55-60k 65-80k 65-75k Site Construction Manager 75-90k 75-90k k k k k Site Contract Manager k k k k Site Commissioning Manager 75-85k 75-85k k k k k Site Project Control Manager 70-75k 70-75k k k k k Site HSE Manager 60-80k 60-80k 80-90k 80-90k k k Project Director (Mining) k k k k Mechanical Leader (Mining) 30-45k 35-50k 50-65k 50-70k 70-90k 70-90k Process Leader (Mining) 35-50k 35-50k 50-65k 50-65k 65-90k 65-90k Renewable Energy/T&D Business Development Manager 45-55k 50-60k 55-80k 55-80k k k Project Development Manager 35-45k 40-45k 50-65k 55-70k 60-80k 60-80k Project Manager 40-55k 40-55k 45-65k 50-70k 60-90k k Engineering Manager 40-55k 40-55k 45-65k 50-70k 60-90k k Procurement Manager 35-55k 35-55k 40-60k 45-65k 55-75k 55-75k Site Construction Manager 40-55k 40-55k 45-65k 50-70k 60-90k k Site Commissioning Manager 40-50k 40-50k 45-60k 50-65k 60-85k 65-95k O&M Manager 35-55k 35-55k 40-60k 45-65k 55-75k 55-75k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Spain 132

134 MADRID Spain IT & DIGITAL ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Management CTO/CIO 65-75k 70-80k k k k k Chief Digital Officer 50-60k 55-60k 60-80k 70-90k k k IT Director 50-65k 55-70k 65-95k k k k Systems Systems Director 75-80k 80-85k 90-95k k k k Systems Administrator 35-40k 40-45k 45-55k 55-60k Head of Infrastructure 55-60k 60-65k 65-70k 70-75k 80-85k 90-95k Network Engineer 35-45k 40-50k 45-60k 45-60k 55-75k 60-80k Chief Security Officer 45-60k 50-70k 50-70k 60-80k 65-90k k Network Security Engineer 35-45k 40-50k 45-60k 45-60k 55-75k 60-80k Reverse Engineer/Hacker 35-40k 40-45k 45-50k 55-60k Development Development Director 55-65k 55-70k 70-90k 70-95k k k Enterprise Architect 65-85k 70-85k k k k k Software Architect 40-50k 45-55k 45-55k 50-55k Development Project Manager 40-60k 45-60k 50-70k 55-70k 60-75k 60-80k Front-end Developer 35-50k 40-50k 40-60k 45-65k 50-70k 55-80k Back-end Developer 30-35k 35-40k Mobile (ios/android) Engineer 30-40k 35-45k Tester/QA Analyst 35-40k 40-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 133 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

135 MADRID Spain IT & DIGITAL ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Data & Analytics Data & Analytics Manager 40-60k 45-65k 50-65k 55-70k 60-85k 60-85k BI Specialist 30-40k 35-40k 35-45k 40-50k 40-60k 45-65k Big Data Specialist 30-35k 40-50k Data Scientist 35-50k 45-60k ERPs SAP Manager 45-50k 50-55k 47-50k 52-57k 60-65k 70-75k SAP Analyst 40-45k 45-50k 45-50k 50-52k SAP Developer 35-40k 38-42k 42-45k 47-50k Sales Account Manager 40-45k 45-50k 50-60k 55-65k 75-80k 75-80k Sales Director 55-60k 60-65k 60-65k 65-70k 75-85k 80-90k Pre-sales Manager 40-55k 40-55k 50-65k 55-70k 60-75k 65-75k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Spain 134

136 MADRID Spain SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP Sales Sales Director k k k k k k Trade Marketing Manager 45-60k 50-65k 65-90k 70-90k k k National Account Manager 45-60k 60-70k 50-65k 75-90k 70-95k k Key Account Manager 45-70k 50-70k 60-85k 70-85k k k Marketing Marketing Director 70-90k 70-90k k k k k Marcomms Manager 50-70k 55-70k 65-75k 65-75k k k Brand Manager 40-60k 40-60k 50-70k 55-70k Digital Online Marketing Manager 45-75k 45-75k 75-90k 80-95k k k Online Project Manager 45-65k 45-65k 50-70k 55-75k E-commerce Manager 45-70k 45-70k k k CRM Manager 30-45k 35-45k 45-70k 50-80k SEM/SEO Manager 30-40k 35-45k 45-55k 50-60k Account Manager 35-50k 35-50k 40-70k 45-70k Social Media Specialist 35-45k 35-45k 40-50k 40-50k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 135 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

137 MADRID Spain TAX & LEGAL ROLE PERMANENT SALARY PER ANNUM EUR ( ) 3-7 YRS' EXP 7-15 YRS' EXP 15+ YRS' EXP In-house Legal Counsel 35-70k 35-75k k k k k Tax Manager k k k k Compliance Manager k k k k Compliance Officer 35-70k 35-75k Private Practice - Law Firms Banking/Finance Lawyer 50-70k 50-75k k k k k Corporate Lawyer 50-70k 50-75k k k k k Litigation Lawyer 50-70k 50-75k k k k k EU & Competition Lawyer 50-70k 50-70k k k k k IP/IT Lawyer 45-65k 45-70k k k k k Labour Lawyer 50-70k 50-70k k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 Spain 136

138 Switzerland HIRING LEVELS REMAINED STEADY THROUGHOUT 2015 DESPITE THE SHARP RISE IN THE VALUE OF THE SWISS FRANC AT THE BEGINNING OF THE YEAR. QUALIFIED PROFESSIONALS WITH NICHE SKILL SETS WERE SOUGHT AFTER ACROSS A VARIETY OF INDUSTRY SECTORS AT MID TO SENIOR LEVEL. AS A RESULT, WE EXPECT RECRUIT- MENT LEVELS IN 2016 TO GRADUALLY INCREASE IN LINE WITH AN IMPROVING EUROPEAN AND GLOBAL ECONOMY INSIGHT The combination of a strong Swiss Franc and slower domestic growth meant that businesses approached hiring with an element of caution throughout the year. However, the majority of our clients remain committed to Switzerland in the medium to long term and as such took part in strategic and opportunistic hiring in core business areas. As well as a stronger performance from the ICT sector, regulation continued to drive increased hiring levels across the legal, compliance, risk and project areas in the financial services sector. These will remain buoyant areas of recruitment in There was an ongoing debate around limiting the number of foreign professional workers 137 Robert Walters Global Salary Survey 2016 in Switzerland during the year. In light of this, the demand for local talent remained strong throughout 2015 and will be sustained in EXPECTATIONS We anticipate a gradual rise in levels of recruitment in 2016, with growth particularly evident across a number of key in-demand areas. Hiring managers are still likely to be cautious and this will be reflected in salary levels, but the overall outlook for the Swiss recruitment market is positive. Compliance, legal and risk divisions will see higher levels of recruitment as Switzerland takes the lead in European legislation relating to financial regulation. This is a new development, as historically Switzerland has followed the direction of other European countries. We also expect strong hiring activity in treasury and money markets as well as trade finance. These are areas that are enjoying growth and we expect them to provide increasing employment opportunities in With the exception of niche roles such as regulation and compliance, finance salaries in commerce and industry are expected to remain relatively static, with many departments still in a period of consolidation. Within the ICT sector, there will be high demand for experienced local sales professionals who can bring with them valuable Swiss and international customer networks. In 2016, hiring managers may wish to reassess their candidate selection process. It became apparent in 2015 that employers were often waiting for the perfect CV to appear, resulting in lengthy vacancy periods. Whilst this might be justifiable for senior positions, many companies realised the cost of leaving roles unfilled as they missed out on top talent. In order to attract and retain employees, companies will still need to offer competitive financial remuneration. Those businesses that are able to demonstrate commitment to corporate responsibility and provide training and development programmes of real worth will be the candidate s first choice. ACCOUNTING & FINANCE The accounting and finance jobs market for permanent professionals was challenging during 2015, with companies reducing their operations in Switzerland due to high employment costs and concerns over the strength of the Swiss Franc against the Euro. As commerce and industry firms focused on operational effectiveness there were sharp increases in demand for a number of

139 Switzerland OVERVIEW Switzerland professionals; controllers and cost accountants were identified as key hiring targets. We also saw continued requirements for top talent at the mid to senior level. There was also a noticeable shortage of quality junior accountants with general ledger experience in the market, and larger companies headquartered in Switzerland struggled to attract technically strong group accountants with sound knowledge of IFRS and consolidations. This is an area where international candidates will continue to be in demand in Salaries for permanent finance professionals will remain consistent but there will be little movement in 2016, despite Swiss companies having an increasing number of roles and a limited pool of professionals to fill them. Market conditions in Switzerland created demand for interim staff in In this area a range of skills were sought after, for example, we saw a rise in requirements for interim professionals to work on clean-up projects following company restructures as well as business-critical projects, such as change management. We expect daily rates for interim employees to increase during 2016 as a result of growing demand for these skills. Employers also set the bar much higher for their junior finance and business support hires in 2015 and were far more selective when hiring. Many businesses moved such roles or teams to lower-cost locations in Europe, however there was still a positive demand for those candidates who could add real value to the organisation. Salaries overall will remain constant in BANKING & FINANCIAL SERVICES In both German and French-speaking areas of Switzerland, the permanent recruitment market remained candidate driven throughout 2015, with consistent demand for specialist, highcalibre candidates at mid to senior level. Interim professionals were also in demand, largely driven by regulatory and operational changes in the banking sector. Permanent and interim candidates with strong legal and compliance skills remained highly sought after throughout the year, due to increasing regulatory scrutiny in the asset and wealth management sectors. Products and investment suitability expertise in the compliance advisory space was also in demand, mainly on a permanent basis. Another area within corporate and investment banking in which we saw strong demand during 2015 was commodity trade finance. Despite continued market volatility affecting commodity prices, we saw both banks and commodity trading houses strengthen their teams focused on financing activities. Salaries within the banking and financial services sector as a whole remained high in 2015, and we envisage this continuing in We expect candidates with specialist expertise in areas such as compliance, risk and legal will be able to command higher salary increases, particularly over the next year. As niche skill sets became increasingly in demand in 2015, both local and international interim candidates benefited from high daily rates. As a result, Switzerland is an attractive market for interim positions, and this will continue to be the case in SALES & MARKETING Overall we saw a positive recruitment market for sales and marketing professionals in 2015 as strong domestic consumption limited the impact of the strong Swiss Franc. We saw considerable merger and acquisition activity within the ICT sector at global players in both hardware and software. This led to a sudden increase of technology sales candidates seeking new positions. As the ICT sector continues to thrive we anticipate a sustained demand for top IT sales professionals, particularly individuals with an impressive existing network of retail, financial services and telecom company connections. We also expect that with the growing demand for cloud business services, IT companies will build teams around cloud computing-related products and services, generating additional positions for experienced professionals. In marketing, online specialists will be increasingly popular hiring choices as companies focus on targeted online activity. As a result, specialists with experience working with the relevant tools and the ability to track ROI are likely to be in higher demand than marketing generalists. Another area of growth was in IT security, where active recruitment by both international and Swiss-based companies has been experienced. For hiring managers, the key challenge is to source specific skills and experience rather than generic sales knowledge. We anticipate stable salary levels in 2016, with only those candidates possessing niche and high-demand skills able to command higher wage increases. KEY TRENDS Ongoing regulatory requirements for financial services companies means the demand for candidates with strong compliance and legal skills will persist. The ICT sector continues to thrive and we foresee a sustained demand for top IT sales professionals that bring with them a well-developed client network. Interim candidates with a strong finance background and several years of experience in Switzerland are in demand. Hiring managers are likely to be fairly cautious, and this will be reflected in little movement in salary levels. Switzerland 138

140 ZURICH ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM & INTERIM RATES PER DAY (CHF) 3-7 YRS' EXP (PERM) 7 + YRS' EXP (PERM) RATE PER DAY (INTERIM) Accounting & Finance Chief Financial Officer k k Finance Director k k Group Controller k k Finance Manager k k k k Chief Accountant/Accounting Manager k k k k Accountant k k k k Audit Manager k k k k Auditor k k k k Internal Audit k k k k Consolidation Accountant k k k k FP&A Manager k k k k Controller (Management Accounting) k k k k Cost Controller k k k k Business Analyst/Financial Analyst k k k k Tax Specialist k k k k Treasury Manager k k k k General Ledger Accountant k k k k AP/AR Manager k k k k AP/AR Accountant k k k k Credit Controller/Analyst k k k k Payroll Accountant k k k k Projects Project Manager SAP/ERP Specialist NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 139 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

141 ZURICH BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM & INTERIM RATES PER DAY (CHF) 3-7 YRS' EXP (PERM) 7 + YRS' EXP (PERM) RATE PER DAY (INTERIM) Compliance & Legal Head of Legal k k k k Legal Counsel k k k k Compliance Manager k k k k Regulatory Compliance Officer k k k k Financial Crime Compliance Officer k k k k Onboarding & KYC k k k k Risk CRO k k k k Market Risk k k k k Credit Risk k k k k Operational Risk k k k k Corporate Functions CFO/COO k k k k Financial Controller k k k k Financial/Tax Accountant k k k k Internal Audit k k k k Product Control k k k k Investment Management Portfolio Manager k k k k Equity/Fixed Income/PE Analyst k k k k Quantitative Analyst k k k k Marketing & Communications Roles k k k k Sales Roles k k k k Middle & Back Office Roles k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Switzerland 140

142 ZURICH SALARIES BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM & INTERIM RATES PER DAY (CHF) 3-7 YRS' EXP (PERM) 7 + YRS' EXP (PERM) RATE PER DAY (INTERIM) Corporate Banking Credit Analyst k k k k Trade Finance Officer k k k k Relationship Manager k k k k Middle & Back Office k k k k Projects Programme Manager/PMO Project Manager Business Analyst Regulatory Implementation Project BUSINESS SUPPORT ROLE PERMANENT TEMPORARY SALARY PER ANNUM CHF RATE PER HOUR CHF Administrator 55-75k 55-75k Data Analyst 55-80k 55-80k Customer Service Co-ordinator 60-90k 60-90k Customer Service Manager k k Legal Assistant/Secretary/Paralegal 60-90k 60-90k Team/Office Manager k k Team/Office Assistant k k Personal/Executive Assistant k k Receptionist 45-80k 45-80k Secretary 50-85k 50-85k Translator/Language Specialist k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 141 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

143 ZURICH SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM CHF 5-7 YRS' EXP 7-12 YRS' EXP 12+ YRS' EXP Sales National Sales Director k k k k Regional Sales Director k k k k Key Account Manager Industry k k k k k k Key Account Manager FMCG k k k k k k Key Account Manager Software k k k k k k Key Account Manager Retail k k k k k k Key Account Manager TELCO/IT k k k k k k Sales Representative k k k k k k Business Development Manager k k k k k k Channel Sales Manager k k k k k k Marketing Marketing Director k k k k k k Marketing Manager k k k k k k Online Marketing Manager k k k k k k Brand Manager k k k k k k Category Manager k k k k k k Product Manager B2B k k k k k k Product Manager B2C k k k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Switzerland 142

144 Brazil Rio de Janeiro São Paulo AFTER A STRONG START, 2015 WAS A DIFFICULT YEAR FOR RECRUITMENT IN BRAZIL, WITH DEMAND FOR SPECIALIST PROFESSIONALS LIMITED TO A FEW NICHE AREAS. Hiring levels fell dramatically and the disparity between job losses and the number of roles being created became particularly acute in the middle of the year. Unemployment rose quickly from 5% in 2014 to 8% in However, this did seem to stabilise by the end of the year. At the root of these challenging recruitment trends was a combination of economic factors impacting businesses across the board; inflation continued to rise and the cost of doing business became ever greater, particularly the cost of energy. The coming year is therefore likely to see more challenges than opportunities INSIGHTS Across finance, companies switched their focus from dealing with growth to cost control, and candidates were expected to be able to critically analyse business trends. English skills and international exposure were highly sought after. Within marketing, there was increased activity in the digital space. A number of companies moved into Brazil to tap into huge internal market opportunities, and marketing candidates who could deploy established techniques across CRM and social media were recruited by forward-thinking businesses. In sales functions, following years of growth, finding new clients became a matter of survival in This led to the creation of new business development roles, and a candidate s capacity to open doors with a portfolio of clients was a critical advantage for senior-level hires. General manager positions were also sought after as many companies began to suffer financial losses in Brazil. Tax and legal were the only sectors to see continuous upward activity, as no company could afford to lose their tax planning and compliance functions, and law firms dealt with an unprecedented amount of cases EXPECTATIONS In 2016 the combined effect of rising costs and falling sales will have a significant impact on salaries. This will be compounded by the mandatory inflation-linked rise in salaries dissídio which is likely to be 2% above inflation despite -3% GDP growth. This will have a severe effect on employment too, with numerous job cuts anticipated. Many of those whose jobs will be made redundant will be unable to find an equivalent or higher salary elsewhere, and may be forced to accept a 10% cut in their previous salary. Those moving from one role to another will no longer be able to obtain the 30-40% increases of recent years. As a result there will be increasing wage discrepancies between similar roles, and little in terms of salary to separate one role from the next step up. In sales roles, professionals may need to accept lower base salaries and higher performance bonuses. ACCOUNTING & FINANCE The recruitment market struggled in 2015, mainly due to the country s economic and political crisis, and companies had a difficult time attracting investment from abroad. The year was characterised by a smaller number of open opportunities and a larger number of candidates available in the market. In some sectors, notably automotive and infrastructure, companies changed their structure and replaced senior professionals with more junior 143 Robert Walters Global Salary Survey 2016

145 Brazil OVERVIEW Brazil profiles. However, there was movement at other companies to replace operations candidates with strategic professionals with more specific experience and language skills. In 2016 employers will be looking for more of these strategic candidates such businessorientated professionals understand the links between functions, and can help steer the business through difficult conditions. There will also be increasing demand for candidates who have international experience and language skills. These candidates will command higher salaries, but companies may cut other roles in order to pay for them. It is likely to be a difficult year for those looking for a new role. In previous years professionals moved quickly from company to company, increasing their salary packages by around 20-30%. In 2016 however, even excellent candidates will be open to negotiation, and 2016 salary packages will remain on par with those in SALES & MARKETING The political crisis in Brazil had a huge impact on the economy in This in turn affected the jobs market and we saw numerous layoffs. In addition, many senior positions were replaced by more junior professionals. Large corporations will increasingly hire and develop talent internally, which means there will be many skilled candidates looking for work. This presents an excellent opportunity for employers to select people with great experience and commitment. Companies will still be reorganising internal processes and will be looking for professionals who are strong multi-taskers, and who will work hard to achieve results. A change in the market is expected after the Rio Olympic Games as companies in many sectors are postponing all new business and hiring investments until then. The economic and political crisis is also expected to stabilise by then, and business and recruitment activity is likely to pick up again from August onwards. TAX & LEGAL Tax and legal were the only sectors to remain consistently strong. The tax function was critical for every company none could afford to lose the capacity for tax planning and compliance, so any losses were filled quickly with replacements. Law firms were kept very busy handling cases relating to compliance, corruption, employment and lay-offs. Even though lawyers were heavily overworked, very few were leaving firms this was in stark contrast to previous years when there was a high turnover of legal professionals. Due to the numerous corruption issues Brazil was facing in connection with the Lava-Jato federal police investigation, many companies also sought compliance professionals, and this will continue throughout Tax issues will remain in the spotlight due to rising inflation, which stood at nearly 10% at the end of The high unemployment rate and the predisposition of the government to create new taxes will all help generate significant demand for tax professionals. In 2016 the combined effect of rising costs and falling sales will have a significant impact on salaries. KEY TRENDS Those moving from one role to another will no longer be able to obtain the 30-40% increases of recent years. There will be increasing demand for professionals who have international experience and language skills. Large corporations will increasingly hire and develop talent internally, which means there will be many skilled candidates looking for work. The tax function was critical for every company none could afford to lose the capacity for tax planning and compliance, so any losses were filled quickly with replacements. Brazil 144

146 BRAZIL SALARIES ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM BRL (R$) 4-8 YRS' EXP 8-12 YRS' EXP 12+ YRS' EXP CFO k k k k F&A Manager k k k k Head of Controlling k k k k k k Business Controller k k k k k k Cost Controller k k k k k k FP&A Manager k k k k k k Treasury Manager k k k k k k Accounting Manager k k k k k k Internal Audit Manager k k k k k k TAX & LEGAL ROLE PERMANENT SALARY PER ANNUM BRL (R$) 4-8 YRS' EXP 8-12 YRS' EXP 12+ YRS' EXP Tax Tax Director k k k k Tax Manager k k k k k k Tax Planning Manager k k k k k k Legal Legal Director k k k k Legal Manager k k k k k k Partner k k k k Associate Lawyer k k k k k k Legal Compliance Manager k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 145 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

147 BRAZIL SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM BRL (R$) 4-8 YRS' EXP 8-12 YRS' EXP 12+ YRS' EXP Sales General Manager k k k k Sales Director k k k k National Sales Manager k k k k k k Technical Sales Manager k k k k k k New Business Development Manager k k k k k k Key Account Manager k k k k k k Marketing Marketing Director k k k k Digital Marketing Manager k k k k k k Trade Marketing Manager k k k k k k Marketing & Pricing Manager k k k k k k Market Research Manager k k k k k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Brazil 146

148 USA New York San Francisco NEW YORK 2015 INSIGHT As the nation s economic confidence grew, driven by strong company results and stock market performance, recruitment levels remained steady across the United States. Across commerce and industry, US firms were confident about the competitiveness of their products in 2015, creating strong demand for proven sales professionals. As a result, the number of qualified and suitably experienced professionals who were available to move roles was severely depleted by the end of the year. Hiring activity was also strong in the banking and financial services sector. Regulatory oversight was particularly busy as organizations prepared to implement rafts of new regulations set to come into force during As the year progressed, retention became a focus and companies responded to the threat of losing their top-performing employees by increasing their investment in training and career development. 147 Robert Walters Global Salary Survey EXPECTATIONS As the US economy continues on its expected 2016 growth trajectory, training and development alone will not be enough to attract and retain talent. With increasing numbers of professionals receiving multiple offers from prospective employers and counter-offers from their existing employers, hiring managers will also need to consider paying higher salaries. There will be even greater demand during the year for salespeople across commerce and industry. Digital s continuing emergence as the preferred platform for advertising will fuel the creation of many marketing start-ups, with companies struggling to fill positions from a relatively small talent pool. Hiring levels for asset managers and money managers will increase among financial services firms, who will also continue to compete for regulatory expertise. As companies more frequently use shared services centers to meet their basic accounting functions, the need for senior finance personnel will also intensify, as the succession-planning pipeline dries up. We also expect to see a large increase in banks seeking legal professionals to fill in-house counsel positions, and anticipate that companies in all sectors will be hiring IT professionals to fill a range of back office and IT engineering roles. There will be additional talent shortages within financial services, particularly among sales and marketing professionals with proven track records, and financial services specialists with regulatory and financial planning & analysis (FP&A) experience. Employers may need to consider streamlining the hiring process to attract talent in 2016, not just by offering competitive reward packages, but also by moving to the offer stage faster. We also encourage hiring managers to be more flexible when recruiting new talent. It has been a noticeable trend that, where a very rare set of skills has been specified, some positions have remained open for months at a time. It is expected that salaries across the board will continue to rise at the recent average of 10-15%. However, employers are advised to move beyond 20% to secure the most in-demand talent.

149 USA OVERVIEW ACCOUNTING & FINANCE The recruitment market for accountancy and finance professionals continued to be extremely positive through 2015 as consumer spending grew, most particularly across the pharmaceutical and consumer products sectors. The digital-driven revolution in the media and advertising sector also brought about particularly strong levels of hiring. Due to the large and growing number of organizations electing to cut costs by offshoring their back office accounting functions; we anticipate that organizations will look to reinforce their teams in 2016 with experienced commercial finance and FP&A talent to expedite this change. Throughout the year, candidates in greatest demand will be proven professionals from prestigious management consulting firms, as well as MBAs who have graduated from top-tier colleges across the USA. In order to attract jobseekers of this calibre, employers are advised to offer highly competitive salaries; around 10% higher than those paid in BANKING OPERATIONS & FINANCE Demand for finance professionals was consistently high at the assistant vice president and vice president levels in 2015, leading to slight salary increases. As trading volumes in investment banks increased, we also saw hiring activity for product control professionals rise for the first time in five years. The ongoing drive among investment banks to cut costs by moving their back office functions to lower-cost locations within the US, reduced hiring levels in New York during We also noted that candidates were increasingly keen to relocate from major cities with accompanying lower salaries a trend which we expect to continue in A continued emphasis on streamlining and reorganizing the operations functions of investment banks will also drive a heightened need to recruit change and project managers in INFORMATION TECHNOLOGY Following similar trends in preceding years, a widespread scarcity of available talent meant that candidates held a controlling influence over the US IT recruitment market in During the year, we saw the greatest shortages emerge among back end, big data and front end engineers. During 2016, the most in-demand jobseekers will receive multiple offers, including counterproposals from their current employers. We recommend that hiring managers focus on streamlining and simplifying their recruitment processes during 2016, to increase their chances of securing the highly sought-after professionals they require. LEGAL & COMPLIANCE As investment banks focused on growth in 2015, demand for mid-level attorneys, most particularly in their asset and wealth management divisions, increased. Improving capital markets meant that structured-product and structured-lending specialists were also highly sought after. Improving market conditions in 2016 will result in a slight increase in legal salaries, when a scarcity of partnership opportunities in private practice will cause more professionals to seek in-house counsel positions. Increasing legislation and regulation drove banks and financial institutions to hire growing numbers of compliance professionals in Candidates with a combined legal and compliance background were the most attractive hires, along with experienced interpreters of complex regulations. We anticipate that the growing need for top compliance talent will drive salary increases of around 10% in RISK MANAGEMENT & QUANTITATIVE ANALYTICS The obligation to meet the requirements of the Comprehensive Capital Analysis and Review (CCAR) and Basel III meant that in 2015 most risk management hiring by banks was in their market and credit risk departments. A growth in assets under management during the year also caused hedge funds and asset management firms to recruit increased numbers of risk professionals, resulting in modest salary increases in this field. Many banks have not yet fully complied with the new CCAR regulations, meaning they will need to bring more risk professionals on board. This will underpin a buoyant recruitment market for risk management candidates in 2016, which we expect to lead to further small salary increases. SALES & MARKETING Increasing consumer demand meant that sales professionals were more popular hires than marketing specialists in 2015, most particularly in the media, technology and manufacturing industries. We expect to see a shift in emphasis during 2016, as top marketing talent is increasingly sought to help refine organizations brand positioning, especially within the consumer products industry. Hiring will be greatest in the digital marketing space, where companies will seek technical specialists. Hiring managers seeking the strongest jobseekers will need to ensure that the salary element of the compensation package is more competitive in Although stock options can be an important component, this is not always a major incentive for more junior candidates. USA NEW YORK USA 148

150 USA New York San Francisco SAN FRANCISCO 2015 INSIGHT Throughout 2015, demand for top-tier talent in San Francisco s technology-driven recruitment market dramatically exceeded supply as business owners fought to attract the individuals who could do the most to build their companies securely, sustainably and fast. As a result, it wasn t unusual to see mobile software engineers with experience of ios or Android development receive up to 10 job offers in the space of a week, enabling them to choose the employer who provided the best prospects. Employers that were prepared to move fast and offer generous rewards, more often than not including significant equity in the business, experienced the greatest recruitment success EXPECTATIONS There will be little change in this situation during Jobseekers, aware of the high attrition rates among start-up companies, will be increasingly keen to attach themselves to businesses whose founders have an established record of success. The recruitment environment in San Francisco, fuelled by social media, is as transparent as it is competitive. This means that providing a smooth and enjoyable interview experience is essential for hiring managers aiming to project a positive and desirable brand image to the most talented and exceptional candidates. We expect to see a number of market sectors that achieved prominence in 2015, including machine learning and the on-demand or socalled gig economy, to continue their rapid upward trajectory in Data scientists, product designers and mobile specialist marketers will be in great and growing demand in Business operations professionals, often former management consultants or investment bankers seeking a start-up environment, will also be increasingly sought after to provide an analysis-driven financial angle on business strategy. The structure of financial offers made to candidates by tech firms will increasingly depend on whether the individual would rather have a higher salary or a substantial share of equity in the company. As a result, there can often be major differences, sometimes amounting to six-figure sums, between the salary levels offered by two different companies for essentially the same position. In addition, later-stage companies, where early joiners have already received a high proportion of equity, are likely to pay significantly higher salaries. Similarly, very early-stage start-ups offering equity frequently offer very low initial salaries due to their confidence in the ultimate value of the equity available. Organizations such as Google and Facebook in particular, meanwhile, are renowned for offering top talent remuneration packages so far above average market rates that only competitors of an equivalent scale can match them. Unprecedented venture capital is evident across the San Francisco Bay Area, with investors seeking the next generation of businesses to deliver massive returns. Despite some concerns about the market softening, we expect to see many new angel investors enter the market in 2016, as an anticipated series of initial public offerings (IPOs) produces a new generation of multi-millionaires keen to put their money into the next big thing. 149 Robert Walters Global Salary Survey 2016

151 USA OVERVIEW ACCOUNTING, FINANCE & BUSINESS OPERATIONS The continued growth in the Bay Area s technology sector had a very positive influence on the region s finance jobs market during 2015, which performed very strongly throughout the year. The level of hiring activity was consistently high in the finance and accounting area. The greatest increase in demand was for business operations talent, particularly professionals with city launcher experience who can take their employers into new territories. We expect that the emphasis on business operations hiring will continue into Start-ups seeking experienced financial controllers and VPs of Finance to review all finance processes, assess the team and potentially prepare for an IPO or exit, are set to be another source of growth in Overall, we will continue to see a preference among hiring managers for specialist over generalist talent. BUSINESS DEVELOPMENT, MARKETING & SALES The recruitment market for sales and marketing professionals continued to be extremely buoyant in Software was the biggest growth category in sales recruitment, with the greatest interest being in professionals with enterprise-level experience. Marketers with a strong record of generating enterprise demand were also highly sought after, as were consumer specialists with proven user-acquisition experience. In 2016, continued expansion by software companies will generate more recruitment activity across both sales and marketing. In addition, we will see much more B2B hiring in the predictive analytics area. The fast-growing on-demand/gig economy will also drive high volumes of consumer recruitment activity during Although the gaming and ad-tech sectors were relatively quiet in 2015, we expect that the accelerating development of the virtual/augmented reality and esports segments will drive an increase in sales and marketing hiring during We also expect to see start-ups in the mobile e-commerce, payment, shared economy and on-demand services generate additional demand for sales and marketing professionals. Those with experience in paid social, paid search and marketing will be the most highly sought after. PRODUCT MANAGEMENT, DESIGN & ANALYTICS During 2015, the San Francisco Bay Area saw high levels of recruitment activity within the product management, design, and analytics functions. Of these three functions, the design recruitment market experienced the most dramatic increase in activity compared to Within design, there was a particularly scarce supply of talent with skills in mobile user experience (UX). Both consumer and enterprise start-ups are seeking this talent and so the demand is much greater than the supply, given that mobile has only been around for a short period of time. As the mobile industry continues to grow, we expect this trend to continue throughout The volume of recruitment activity in 2015 for product managers remained consistent with that of 2014, however we saw a new specialization 68% San Francisco professionals who are expecting a pay rise in 2016 Robert Walters Employee Insights Survey 2015 Robert Walters Employee Insights Survey 2015, 576 respondents emerge within that function. Growth product managers became highly sought after by startups. We anticipate this function will continue to evolve in The tech industry at large continues to emphasize the importance of data-driven decisions, and so we predict that analytics professionals will remain in high demand in Within analytics we anticipate that data science positions will be the most challenging to fill. Start-ups are seeking professionals with advanced levels of academic achievement (i.e. PhD) and start-up experience, but that combination is not easily found. In general in 2015, employers increasingly expressed a preference for specialist skill sets rather than generalist professionals. This is a trend that we anticipate continuing in SOFTWARE ENGINEERING Investors continued to find the tech industries very attractive throughout 2015, as the potential for gaining large returns remained high. As a result, the software engineering market was as buoyant in 2015 as it had been the year before, with no signs of slowing down. This kept demand for engineers very high, making the market for increasingly rare top talent extremely competitive. The most sought-after engineers were those with expertise in Node.js, Python/Django, Ruby on Rails and Angular technologies. Mobile professionals, in particular those with Android and DevOps expertise, were also highly valued candidates. The extreme scarcity of professionals with these precise skill sets means that hiring managers will need to be more flexible in their approach to attracting talent in We advise that they consider people who may not have the precise experience they require, but who are intelligent and have a computer science degree, software engineering and programming skills. Salaries will be similar to 2015, with some increases for those job movers with Android and DevOps experience. USA SAN FRANCISCO USA 150

152 NEW YORK ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT SALARY PER ANNUM USD ($) Chief Financial Officer k k VP Finance k k Controller k k Finance Director k k FP&A Manager k k Accounting Manager k k Financial Analyst 70-95k k Senior Accountant 60-80k 70-90k Tax Specialist k k Internal/IT Audit Specialist k k Accounts Payable Specialist 45-65k 45-65k Accounts Receivable Specialist 45-65k 45-65k Payroll Specialist k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 151 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

153 NEW YORK BANKING OPERATIONS & FINANCE ROLE PERMANENT SALARY PER ANNUM USD ($) Accounting, Control & Audit Chief Financial Officer k k Finance Director k k Taxation Manager - SVP k k Taxation Manager Pricing - VP k k Controller - SVP k k Controller/Deputy - VP k k Auditor Chief - SVP k k Auditor Chief - VP k k Senior Financial Analyst k k Product Control/Middle Office Head of Product Control k k Product Control/Pricing - SVP k k Product Control/Pricing - VP k k Product Control - AVP 70-90k 70-90k Head of Middle Office k k SVP Middle Office k k VP Middle Office k k VP Project Manager k k VP Business Analyst k k Banking Operations & Finance Chief Operating Officer k k Lending/Credit Manager/Officer k k SVP Cross-product Settlements k k VP Cross-product Settlements k k VP Fixed Income & Equity k k Associate Fixed Income & Equity 35-55k 35-55k VP Foreign Exchange k k Associate Foreign Exchange 30-60k 30-60k Project Manager, Prince 2, Six Sigma k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 USA 152

154 NEW YORK INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM USD ($) Software Engineering Chief Technology Officer k k Director of Engineering k k Android/iOS Engineer k k Big Data Engineer k k Full Stack Engineer/Microsoft k k Full Stack Engineer/Open-source k k Back-end Engineer k k Front-end Engineer k k Development Operations Engineer k k Automation Engineer k k Product Management & Design VP of Product k k Director of Product k k Senior Product Manager k k Director of Design k k Senior Designer k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 153 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

155 NEW YORK LEGAL ROLE PERMANENT SALARY PER ANNUM USD ($) 1-4 YRS' EXP 4-8 YRS' EXP YRS' EXP Private Practice Associate k k k k k k+ In-house Attorney - Financial Services k k k k k k+ In-house Attorney - Commerce k k k k k k+ COMPLIANCE ROLE PERMANENT SALARY PER ANNUM USD ($) Investment Banking Managing Director k k Director (SVP) k k VP k k AVP k k Analyst/Associate 60-90k 60-90k Hedge Fund (AUM $2B - $5B) Chief Compliance Officer (10+ yrs' exp) k k Compliance Manager (5-10 yrs' exp) k k Compliance Associate (1-5 yrs' exp) k k Hedge Fund (AUM $5B+) Chief Compliance Officer (15+ yrs' exp) k k Compliance Manager (8-15 yrs' exp) k k Compliance Officer (5-8 yrs' exp) k k Compliance Associate (1-5 yrs' exp) k k Anti-Money-Laundering Director (SVP) k k Team Leader (AVP) k k Analyst 60-95k 60-95k KYC/EDD Analyst 50-70k 50-70k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 USA 154

156 NEW YORK RISK MANAGEMENT & QUANTITATIVE ANALYTICS ROLE PERMANENT SALARY PER ANNUM USD ($) Market Risk Managing Director 500k - 1.3m 500k m Director/Senior Vice President k k Vice President k k Associate k k Analyst k k Credit Risk Managing Director 450k - 1.0m 450k - 1.0m Director/Senior Vice President k k Vice President k k Associate k k Analyst k k Quantitative Risk Managing Director 500k - 1.2m 500k - 1.2m Director/Senior Vice President k k Vice President k k Associate k k Analyst k k Operational Risk Managing Director k k Director/Senior Vice President k k Vice President k k Associate k k Analyst 50-80k 50-80k NB: Figures are total compensation numbers including bonuses unless otherwise specified. 155 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

157 NEW YORK SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM USD ($) Marketing Vice President Marketing k k Marketing Director k k Product Marketing Manager/Director k k Marketing Manager k k Public Relations Manager k k Communications Manager k k Sales Vice President Sales k k National Sales Manager/Director k k Regional Sales Manager/Director k k Account Manager k k Business Development Manager/Director k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 USA 156

158 SAN FRANCISCO ACCOUNTING, FINANCE & BUSINESS OPERATIONS ROLE PERMANENT SALARY PER ANNUM USD ($) Finance & Accounting Chief Financial Officer k k VP Finance k k Finance Director k k Controller - VP k k Controller k k Manager FP&A k k Accounting Manager k k Senior Financial Analyst k k Business Operations Chief Operations Officer k k Director Business Operations k k Manager Business Operations k k General Manager - City Launcher k k Human Resources VP of People k k Director of People k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 157 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

159 SAN FRANCISCO BUSINESS DEVELOPMENT, MARKETING & SALES ROLE PERMANENT SALARY PER ANNUM USD ($) Sales VP of Business Development k k Business Development Director k k Business Development Manager k k VP Sales k k Sales Director k k Account Executive Enterprise k k Account Executive Mid-market k k Account Executive SMB 50-80k 50-80k Account Director k k Account Manager 60-90k k Ad Operations Manager k k Marketing VP of Marketing k k Product Marketing Director k k Product Marketing Manager k k PR Director k k PR Manager k k Brand Marketing Director k k Brand Marketing Manager k k Demand Generation Director k k Demand Generation Manager k k User Acquisition Director k k User Acquisition Manager k k Digital Marketing Director k k Digital Marketing Manager k k Marketing Senior Staff 50-80k 60-90k Content Marketing Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 USA 158

160 SAN FRANCISCO PRODUCT MANAGEMENT, DESIGN & ANALYTICS ROLE PERMANENT SALARY PER ANNUM USD ($) VP of Product k k Director of Product k k Senior Product Manager k k Product Manager k k Associate Product Manager 60-80k k VP of Data Science/Analytics k k Director of Data Science/Analytics k k Manager of Data Science/Analytics k k Data Analyst (IC) k k Data Scientist (IC) k k VP of Design/Creative Director k k Manager/Director of Design k k Senior Designer k k Designer k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 159 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

161 SAN FRANCISCO SOFTWARE ENGINEERING ROLE PERMANENT SALARY PER ANNUM USD ($) VP of Engineering k k Director of Engineering k k Engineering Manager k k Senior Android Engineer k k Android Engineer k k Senior ios Engineer k k ios Engineer k k Senior Big Data Engineer k k Big Data Engineer k k Senior Full Stack Engineer k k Full Stack Engineer k k Senior Back-end Engineer k k Back-end Engineer k k Senior Front-end Engineer k k Front-end Engineer k k Dev Ops Engineer k k Senior Software Engineer in Test Automation k k Software Engineer In Test Automation k k NB: Salaries are subject to change depending on the equity portion of an offer. 15 Robert Walters Global Salary Survey 2016 USA 160

162 Australia Adelaide Brisbane Chatswood Melbourne Parramatta Perth Sydney CHANGES IN POLITICAL LEADERSHIP, CONCERNS OVER THE ECONOMY AND A WEAKENED CURRENCY CAUSED UNCERTAINTY AMONG HIRING MANAGERS DURING Overall, the recruitment market lacked real dynamism, however, the resurgence in hiring across the banking and IT sectors indicate that 2016 is likely to see higher levels of activity. In general, opportunities will be greatest for those with very specialist skills, particularly in digital technologies, but salaries will remain broadly flat for most professionals. As a consequence, many specialists are likely to consider moving roles for better career development or more flexible working options INSIGHT While the unemployment rate remained steady at over 6%, the continuing decline of the commodities sector and wider fears about the economy dented confidence across almost all sectors throughout the year. Naturally, the market remained less active in Western Australia and Queensland, the areas hardest hit by the decline of the mining industry, although we did see a steadily building investment in transport, utilities and urban development. 161 Robert Walters Global Salary Survey 2016 There was optimism in some areas, particularly in New South Wales and Victoria as the year progressed; hiring across banking and financial services moved in a positive direction and we saw a growth in IT appointments across all sectors in almost every region EXPECTATIONS We expect hiring in the banking industry to continue on a positive trajectory in 2016, with risk and compliance specialists experiencing increased demand for their skills. Companies will also seek to hire commercially-aware accountants with strong technical skills who can advise on financial issues at a senior level. We also anticipate high levels of demand among large corporates for IT professionals experienced in cloud security and big data, reflecting the increasing use of mobile technology in all sectors. As businesses continue to keep a careful eye on costs and obtaining the best value from every contract, skilled procurement experts who can help companies reduce risks associated with purchasing will also be highly sought after. Proven sales professionals, who can identify opportunities and negotiate and close deals, will continue to be popular hires as the economy begins to gain momentum. Federal and state government infrastructure projects, meanwhile, will heighten the need for construction engineering professionals during the year. We anticipate that candidates moving jobs in these areas will be able to command salary increases of up to 15%, often alongside added benefits such as competitive bonus schemes. In the legal sector, government departments were actively recruiting corporate lawyers with around five years post-qualification experience to work on a series of commissions set up to investigate matters of public interest. As a result, private companies will experience greater competition to recruit top legal talent, and we expect to see mid-level lawyers receive significant salary increases of up to 15-20%. However, with the exception of roles facing significant skills shortages, particularly in the legal, finance, IT and procurement sectors, salaries are likely to remain relatively flat during Outside these sectors we do not anticipate sufficient demand to drive salary increases beyond 5%. Financial reward is not the only factor that will entice the most sought-after professionals to consider a new role in We advise hiring managers seeking to attract or retain the best talent to consider offering flexible conditions, including home working and variable hours.

163 In general, opportunities will be greatest for those with very specialist skills, particularly in digital technologies, but salaries will remain broadly flat for most. As a consequence, professionals are likely to consider moving roles for better career development or more flexible working options. Australian professionals who are expecting a salary increase in % Australian professionals expecting to receive a bonus in % Australia KEY FINDINGS Australian professionals who will be looking to move jobs in the next 12 months Jobseekers who would turn down a role if it did not meet their flexible working requirements As Australia continues to move away from its reliance on the resources sector and heads towards a broader economic recovery, salaries will remain relatively stable outside those sectors facing significant skills shortages. 57% 40% Federal and state government activity will drive hiring activity for construction, engineering and legal professionals. CAREER PROGRESSION Number one reason why employees will be looking to change roles Robert Walters Pay & Bonus Survey 2015, 1,200 respondents. Australia 162

164 Australia Australia OVERVIEW ACCOUNTING & FINANCE The recruitment market for accounting and finance professionals was largely buoyant throughout A perceived lack of progression and the pull of overseas opportunities encouraged many ambitious accountants to consider a career move in In a bid to stop this outward flow, companies placed renewed focus on retaining key talent by restructuring their finance teams to provide better and more clearly defined career development paths. In South Australia, following restructuring across the mining and resources sector, we saw an influx of accounting and finance professionals into the local recruitment market. As a result, businesses in FMCG, agribusiness and retail, were able to benefit from a surplus of highlyskilled candidates. Meanwhile, in Western Australia there were few major new projects in the resources sector, which served to keep recruitment at low levels. The main operators in the oil and gas sector reacted swiftly to low oil prices by cutting costs, meaning that redundancies were common. However, government funding and regulatory change drove increased levels of hiring in the healthcare and aged care sectors, and this positive trend is expected to continue in The senior-level market returned to healthier levels in Melbourne in 2015, with the re emergence of senior hires at CFO level and for heads of commercial functions. However, the supply of candidates for these roles continued to exceed demand. In contrast, there were still skill shortages in technical accounting and internal controls, where sought-after job movers were able to command salary increases. A number of organisations are considering offshoring core roles within their finance teams in New South Wales. As a result, there is a trend towards streamlining processes and reducing staff costs which we expect to continue in This, in turn, has created a strong contract market when immediate needs arise for transactional staff. In Queensland, businesses will continue to look for candidates with strong commercial experience and the ability to influence the business across all departments. We expect to see the creation of new roles linking finance and non-finance departments in BANKING & FINANCIAL SERVICES Economic uncertainty in early 2015 restricted the recruitment market in banking and financial services but demand is now growing again, with an increase in the number of permanent and contract roles available. Despite the move towards growth, we do not expect to see any significant salary increases in Rises are likely to be restricted to the level of consumer price inflation at around 1.5%. Both South Australia and Queensland will see strong demand for financial planners, and top interstate talent can expect sign-on bonuses and relocation costs as part of their package to entice them to move. More generally, we expect a shift from predominantly contract-focused demand to a more even split across temporary and permanent recruitment as the market strengthens. Increasing regulatory requirements will continue to impact banks in Victoria and New South Wales in As a result, there will be a greater need for technical accountants in treasury, capital management and regulatory reporting departments during the year. Due to the nature of these projects, both permanent and contract professionals will be in high demand. In New South Wales, there was a shortage of high-quality junior-level candidates following several years of offshoring. The situation has now reached a tipping point and the local market has become relatively buoyant, with increases in activity most common at the junior to middle levels. Across both Melbourne and Sydney, companies in the wealth and superannuation sector will need to hire customer-focused employees as organisations seek to differentiate themselves from competitors through superior service. Local and international banks will also recruit credit assessment professionals who can liaise with mortgage brokers on managing home loan approvals. HUMAN RESOURCES Commercially-focused HR generalists continued to be highly sought after in 2015, with an emphasis on professionals with knowledge of people metrics and talent retention KEY TRENDS We expect signs of improved employer confidence as a result of new federal government leadership. The government will need to make a positive short-term impact prior to an anticipated year-end election in order to influence an uplift in hiring activity. With niche skills in short supply and candidates cautious about moving roles, hiring managers need to be decisive about the attributes they are looking for, ensuring an efficient, well-communicated and positive hiring process. Jobseekers need to consider wider career progression and development opportunities in addition to remuneration changes when considering moving employers. 163 Robert Walters Global Salary Survey 2016

165 Australia experience. Hiring managers are demanding about the skill sets they expect from generalist candidates and competition for senior talent is particularly intense. More organisations are developing better ways of measuring employee capability, creating new competency frameworks to ensure greater business efficiency and exploring how to improve engagement. As a result, we expect organisational development specialists and learning consultants to remain in demand professionals with these skills can expect to receive salary increases when moving roles. Many businesses are growing the scale and scope of their own talent management functions and are now looking for much broader skill sets than core recruitment skills. In-house recruitment teams will continue to grow too, driven by a number of change management projects creating greater workloads, particularly within IT and finance. In 2016 we also expect diversity will remain a growing business imperative as more firms focus on meeting their targets and driving innovation to help them stand out. Salaries remained fairly stable in 2015, and we expect a similar trend across most sectors in However, increased IT investment and business transformation projects will mean professionals with change management skills will be in great demand and likely to command higher salaries. INFORMATION TECHNOLOGY Market confidence will continue to improve in 2016 as digital technology embeds itself deeper into almost every area and demand for niche skills will continue to drive the IT recruitment market. Monetisation and security of customer data were the most prominent trends in financial services IT during This year the use of big data and analytics will continue to grow in significance across all sectors, where IT operations analytics prove to be the best way to support complex customer-facing applications and services. This means IT professionals with experience in both areas will be at a premium in During 2016, market trends will make Office 365, UCM, security, cloud-based CRM systems, MS Dynamics and DevOps the most desirable areas of expertise. As companies continue to streamline their online presence and derive value from data, software engineers and developers will grow in value. The cloud and the need to integrate cloud solutions will continue to expand in 2016, as will calls for business intelligence and big data expertise (data analysis, data acquisition, data mining and data structures). Federal, state and local government infrastructure projects will continue to be major contributors to the contract IT employment market. Increasingly businesses are using technology to streamline processes, fuelling demand for IT professionals. Where employers encounter skills shortages in their field, they are increasingly willing to develop talent and train candidates with the right cultural fit. We saw incremental salary increases in the contract and permanent markets over the past year, encouraging greater movement in the workforce and we expect this to continue in As well as remuneration, those jobseekers testing the market are increasingly prioritising attractive company culture and non-financial employment benefits, such as flexible working, staggered hours and healthcare benefits. LEGAL A steady increase in demand for lawyers with three to six years post-qualification experience in specialist areas was the key trend in Sydney during There was also a shortage of talent across the key areas of corporate, finance and construction law. Salaries grew steadily by between 2-6% during the year, although lawyers making lateral moves in key areas were able to achieve increases of up to 15%. Australia 164

166 Australia Australia OVERVIEW LEGAL (CONTINUED) Large infrastructure projects underway across Australia increased legal workloads, fuelling demand for lawyers with non-contentious experience within the construction industry. This is a trend that s likely to continue in 2016 as federal and state governments also increase the scale of their internal legal departments, creating new opportunities. Regulatory change inspired a sudden uplift in hiring across in-house litigation teams, and towards the end of 2015 we saw a steady increase in the number of private practice roles being created. Increased levels of local and international merger and acquisition activity during the year also meant mid-level corporate lawyers were highly sought after a trend we expect to see continue in Across Australia s banks, significant volumes of regulatory change and high numbers of finance transactions caused strong demand for experienced mid-level finance lawyers. As a result, salaries have become slightly distorted in comparison to other departments. PROCUREMENT, SUPPLY CHAIN & LOGISTICS Despite the downturn in the resources sector, the need for category specialists, procurement officers and supply chain professionals remained steady in Queensland during There was, however, a marked move towards contract hiring instead of adding to permanent headcount. ICT procurement professionals with strong vendor management and technical skills across hardware, software, digital and security were particularly sought after, and we saw salaries and day rates increase for these roles. The completion of several major projects reduced demand for logistics specialists, so salaries in this area have remained stagnant. Some organisations, however, used the quieter market conditions to focus on strengthening their logistics teams at middle to senior management levels. As many businesses increased their focus on procurement strategies, there was significant growth in the number of new procurement roles in New South Wales during 2015 particularly for contract opportunities. We expect that top talent with high-level qualifications and the ability to work across functions will be strong hiring choices in Salaries were stable throughout 2015, but we expect that highcalibre, technically strong candidates with above average strategic and engagement skills will command rises in 2016, especially in the contract market. There has been a recent increase in third-party logistics (3PL) partnerships across Australia, and this has driven a shift in the skill sets sought in the logistics industry. As a result, 3PL providers are increasingly requiring a customer-centric approach from their leaders and we anticipate that in 2016 multinationals will be seeking high-calibre, commercially astute professionals to manage their logistics functions. RESOURCES, ENGINEERING & CONSTRUCTION Ongoing cost rationalisation programmes and the transition of a number of major projects from construction to operational stage caused a sharp decline in hiring across Queensland s resources sector in Apart from some ongoing recruitment in the operations area, this situation is likely to continue in With a scarcity of new projects on the horizon, plus unfavourable commodity prices, we expect to see significant decreases in salaries. Queensland-based engineering companies, meanwhile, are investing in transport, utilities and urban development. The commercial construction jobs market has also been active and looks likely to remain so in We will see contract hiring increase across engineering and construction as organisations seek to create more flexible and cost-effective workforces. There will be a steady increase in residential and commercial construction in Western Australia in 2016, driving heightened demand for construction professionals. This will be particularly prevalent in the metropolitan area, where a number of high-value projects will start. Civil engineering projects, including large road and rail initiatives that launched in late 2015, will continue throughout As a result, professionals with niche road and rail specific skill sets are likely to see some growth in salary levels during the year. RISK, COMPLIANCE & AUDIT Heightened regulatory pressures continued to underpin an active market for financial services risk and compliance roles during A range of regulatory projects in particular boosted the contract market and work streams arising from conduct risk, anti-money-laundering (AML) remediation, over-the-counter (OTC) reform and the Privacy Act. The increasing globalisation of compliance and cross-border collaboration between regulators made compliance professionals with experience in foreign jurisdictions particularly popular hires. Most risk management has been at the line 1 (business operations) and line 3 (internal audit and independent assurance) levels of the three lines of defence model. Business level risk and compliance professionals with solid product and operations knowledge will also be highly sought after, and recruitment levels in audit are set to remain steady. High demand for compliance specialists has led to salary increases, a trend we expect to continue in The growing popularity of contracting staff and project-based resourcing has also created a wide discrepancy between permanent and contract rates of pay. Consequently, jobseekers have started to move from permanent roles into contract positions. As we see the effects of reduced graduate hiring between 2008 and 2011 filter through the workforce, a particular shortage of available talent with five to eight years experience has emerged across all disciplines. 165 Robert Walters Global Salary Survey 2016

167 Australia SALES & MARKETING Appetite for sales and marketing professionals remained stable throughout 2015 with a primary focus on those with two to three years specialist experience. Digital roles and consumer insights using data analytics were key growth areas for marketing recruitment in 2015 across IT, financial services and FMCG. As organisations recognised the need to increase their digital presence and retain customers, the most popular hires were digital, communications and data-driven candidates. Although marketing salaries are expected to remain generally stable in 2016, candidates with hard-to-find digital skills will be less willing to move for the same salary. Across sales, business development managers who can sell complex solutions will be in greatest demand in 2016 due to their positive influence on new business rates and revenues. There will also be a continuing trend towards seeking industry specialists with preexisting networks who can make an immediate positive impact. South Australia was hit by numerous redundancies in 2015 with many businesses downsizing, making it difficult for job movers in sales and marketing to command salary increases. The lack of major infrastructure projects in Queensland, meanwhile, has caused professionals to show a greater interest in the not-for-profit sector of the economy, where it is unlikely they will see salary increases during In Western Australia, recruitment focused primarily on industrial organisations in mining and construction in Salaries are likely to stay largely unchanged in 2016, although specific industry experience and having a raft of good contacts will remain desirable attributes. The most buoyant industry sectors for hiring in Victoria were IT and retail, with SMEs being particularly busy on the hiring front. Competition for talent will increase in 2016, and professionals with in-demand digital marketing and business development skills are likely to see salary increases during the year. Business confidence began to improve and a busier jobs market emerged in New South Wales in This confidence is set to continue and will have a positive impact on the market. SECRETARIAL SUPPORT In 2015, many businesses had the luxury of being highly selective with their secretarial and support hiring. Those candidates with key or niche skills had the most opportunities. Demand for senior administrative roles such as executive and personal assistants diminished as organisations streamlined costs and distributed the workload across departments internally. We expect a similar picture in 2016, where demand will be high for specialists and those at more junior levels. The trend for firms to hire less-experienced support staff and then train them in the business will also continue to grow. Temporary and permanent opportunities grew steadily for front-line business support professionals, particularly receptionists and customer service representatives. With growth forecast in technology, professional services and government, candidates with specific industry and technical experience will be highly sought after. Hiring is forecast to grow in South Australia s technology and professional services sectors. In Queensland, administrators with construction experience will be needed to support largescale projects. We expect to see an increase in government placements in New South Wales, and qualified paraplanners and experienced legal secretaries will be highly sought after in Western Australia. Across the country overall, we predict that salaries will remain stable throughout 2016 and that top-tier talent will seek flexible working and career progression opportunities rather than pay rises. SECTOR COMPARISON: WHO IS EXPECTING A PAY RISE IN 2016? 83% 76% 76% Accounting professionals Robert Walters Pay & Bonus Survey 2015 Banking & financial services professionals Supply chain & procurement professionals Australia 166

168 ADELAIDE SALARIES ACCOUNTING & FINANCE - COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Executive Chief Financial Officer k k Financial Controller k k Tax Manager k k Group Accountant k k Qualified Audit Manager k k Financial/Business Analyst k k Finance Manager k k Financial Accountant k k Management Accountant k k Assistant Accountant 55-62k 55-65k BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Professional Business Banking Corporate Relationship Manager k k Commercial Relationship Manager k k Business Relationship Manager 80-90k k Small Business Specialist 75-85k 75-90k Mortgage Lender 65-75k 70-85k Wealth Management & Administration Financial Planner 75-85k 75-90k Paraplanner 55-65k 55-80k Client/Member Services Customer Service/Contact Centre 50-53k 52-55k Settlements/Collections/Verifications 45-50k 52-55k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 167 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

169 ADELAIDE INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Management CIO/CTO k k Infrastructure/Development/BI Manager k k Change Manager k k Senior Project Manager k k Project Manager k k Senior Business Analyst k k Business Analyst k k ERP/CRM/BI Senior Consultant k k Consultant k k Architecture Enterprise Architect k k Solutions/Technical/Security Architect k k Development/Testing Senior Developer k k Web Developer k k Developer k k Test Lead k k Test Analyst 75-95k 75-95k Infrastructure Network/System Engineer k k System Administrator k k Database Administrator k k Helpdesk/Desktop Support 55-75k 50-75k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Australia 168

170 ADELAIDE SALES, MARKETING & COMMUNICATIONS ROLE PERMANENT SALARY PER ANNUM AUD ($) Sales Business Manager k k Business Development Manager k k Account Manager k k Regional Sales Manager k k Sales Manager k k Sales Executive 75-85k 75-85k Relationship Manager 80-90k 85-95k Marketing Marketing Manager k k Marketing Executive 75-85k 75-85k Marketing Co-ordinator 45-65k 50-65k Product Manager k k Brand Manager k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 169 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

171 ADELAIDE SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Business Support Executive Assistant 70-85k 65-80k Office Manager 65-80k 65-80k Personal Assistant 60-70k 60-70k Secretary 45-60k 50-60k Receptionist 45-55k 45-55k Data Entry Operator 45-55k 45-55k Finance Bookkeeper 55-70k 50-65k Credit Controller 55-70k 55-70k Payroll Officer 50-65k 55-70k Accounts Payable/Receivable 50-65k 50-65k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Australia 170

172 BRISBANE ACCOUNTING & FINANCE BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT Corporate Services SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Financial Controller k k Compliance/Risk Manager k k Accountant k k Banking Relationship Manager (Institutional) k k Relationship Manager (Corporate) k k Credit Analyst 65-90k 65-90k Superannuation/Insurance Underwriter k k Claims Manager 50-80k 50-80k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 171 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

173 BRISBANE ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Executive SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Chief Financial Officer k k Financial Controller k k Commercial/Planning Manager k k Tax Manager k k Finance Manager k k Qualified Senior Financial Accountant k k Tax Accountant k k Senior Business/Financial Analyst k k Business/Financial Analyst k k Systems Accountant k k Senior Management Accountant k k Treasury Accountant k k Financial Accountant 65-90k 65-95k Management Accountant 65-90k 65-90k Part-qualified & Transactional Accounts Payable/Receivable Manager k k Payroll Manager k k Payroll Officer 55-70k 55-70k Bookkeeper 50-70k 50-70k Assistant Accountant 45-65k 45-65k Credit Controller 50-60k 50-60k Accounts Assistant 40-55k 40-55k Accounts Payable/Receivable Officer 45-55k 45-55k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Australia 172

174 BRISBANE ACCOUNTING & FINANCE PUBLIC SECTOR ROLE PERMANENT CONTRACT Executive SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Chief Financial Officer k k Finance Manager/Controller k k Qualified Senior Management Accountant k k Senior Financial Accountant k k Business Analyst k k Financial/Management Accountant 65-85k 65-85k Part & Non-qualified Payroll Officer 45-55k 45-55k Accounts Receivable/Credit Officer 45-55k 45-55k Accounts Payable Officer 45-52k 45-52k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 173 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

175 BRISBANE HUMAN RESOURCES & SAFETY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Generalist HR Director k k HR Manager k k HR Business Partner k k HR Advisor (5+ yrs exp) k k HR Advisor (1-4 yrs exp) 75-95k 75-95k HR Officer 70-80k 70-80k HR Co-ordinator 55-60k 55-60k Specialist Change Manager k k Remuneration & Benefits Consultant k k Industrial/Employee Relations Manager k k Organisational Development Manager k k Learning & Development Manager k k Industrial/Employee Relations Advisor k k Organisational Development Advisor k k Learning & Development Advisor k k Recruitment Manager k k Workforce Planning Consultant k k Recruitment Officer 60-75k 60-75k Trainer k k OH&S Manager k k Advisor k k Return to Work Co-ordinator 75-90k 75-90k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses/site allowances unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 Australia 174

176 BRISBANE INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Management CIO/CTO k k Programme Manager k k Infrastructure/Development/BI Manager k k Change Manager k k Senior Project Manager k k Project Manager k k Senior Business Analyst k k Business Analyst k k Architecture Enterprise Architect k k Solutions/Technical/Security Architect k k Development/Testing Senior Developer k k Developer 65-85k 65-90k Test Manager/QA Manager k k Test Analyst 70-95k k Infrastructure Senior Network/System Engineer k k Senior System Administrator k k System Administrator 75-95k 75-95k Network/System Engineer 75-95k k Database Administrator k k Helpdesk/Desktop Support 55-75k 50-75k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 175 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

177 BRISBANE PROCUREMENT, SUPPLY CHAIN & LOGISTICS ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER DAY AUD ($) Procurement Chief Procurement Officer k k Procurement Manager k k Procurement Analyst k k Procurement/Purchasing Officer k 70-90k Contracts Manager k k Contracts Administrator k k Category Manager k k Category Advisor k k ICT Procurement specialist k k Supply Chain Supply Chain Manager k k DC Manager k k Supply Systems Specialist k k Demand Planner k k Logistics Project Freight Manager k k Branch Manager k k Projects Freight Operations Co-ordinator k k Customs Manager k k Customs Broker k k Operations Manager k k Imports/Exports Officer 45-65k 50-70k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses/site allowances unless otherwise specified. 15 Robert Walters Global Salary Survey 2016 Australia 176

178 BRISBANE RESOURCES, ENGINEERING & CONSTRUCTION ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Engineering Design Manager k k Senior Engineer k k Engineer k k Senior Draftsperson k k Draftsperson k 75-95k Construction - Commercial Construction Manager k k Project Manager k k Senior Estimator k k Senior Contracts Administrator k k Contracts Administrator k k Resources Senior Project Engineer k k Senior Asset Integrity Engineer k k Operations Manager k k Senior Contracts Engineer k k Senior Drilling Engineer k k Senior Geotechnical Engineer k k Senior Mining Engineer k k Senior Mechanical Engineer k k OCE k k Statutory Manager k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses/site allowances unless otherwise specified. 177 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

179 BRISBANE SALES, MARKETING & COMMUNICATIONS ROLE PERMANENT SALARY PER ANNUM AUD ($) Sales Sales Director/National Sales Manager k k Sales Manager k k Senior Business Development Manager k k Business Development Manager k k Account Manager k k Sales/Account Executive 50-80k 50-80k Marketing Marketing Director k k Marketing Manager k k Marketing Executive 55-70k 55-70k Marketing Assistant/Co-ordinator 50-65k 50-65k Brand/Product Manager k k Sponsorship & Events Manager 60-90k 60-90k Digital Marketing Specialist 75-95k 75-95k Communications Corporate Affairs Manager k k Communications Director k k Government/Relations Manager k k Investor Relations Manager k k Stakeholder Engagement Manager k k Senior Communications Consultant k k Social Responsibility Executive 85-95k 85-95k Media Relations Manager k k Communications Consultant 70-85k 70-85k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 17 Robert Walters Global Salary Survey 2016 Australia 178

180 BRISBANE SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Business Support Project Co-ordinator k k Executive Assistant k k Facilities Co-ordinator k k Document Controller k k Office Manager 70-90k 70-90k Personal Assistant 65-78k 65-78k Travel Co-ordinator 65-75k 65-75k Project Administrator 65-78k 65-78k Desk Assistant 55-65k 55-65k Legal Secretary 55-65k 55-65k Team Secretary 50-65k 50-65k Administration Assistant 45-55k 40-55k Data Entry Operator 45-50k 45-50k Receptionist 45-55k 45-55k Office Junior 40-45k 42-47k Call Centre Customer Service Manager k k Customer Service Team Leader 65-75k 65-75k Customer Service Representative 45-55k 45-55k Public Sector Business Support Officer 58-63k 58-64k Executive Support Officer 68-75k 68-75k Project Officer 78-90k 79-90k Policy Officer 88-95k 88-95k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses/site allowances unless otherwise specified. 179 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

181 MELBOURNE ACCOUNTING & FINANCE BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT Executive SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Financial Controller k k Finance Manager k k Treasury Manager k k Accounting Senior Finance Business Partner k k Finance Business Partner k k Management Accountant k k Project Accountant k k Internal Audit Manager k k Internal Auditor k k Tax Accountant k k Product Controller k k Financial Accountant k k Fund Accountant k k SMSF Accountant k k Assistant Accountant 55-70k 55-75k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 19 Robert Walters Global Salary Survey 2016 Australia 180

182 MELBOURNE ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Executive SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Chief Financial Officer k k Financial Controller k k Finance Manager k k Tax Manager k k Commercial Manager k k Audit Manager k k Qualified Auditor/Internal Auditor k k Management Accountant k k Financial Accountant k k Tax Accountant k k Financial Analyst k k Business Analyst k k Systems Accountant k k Cost Accountant k k Newly-qualified Accountant 75-85k 75-85k Part-qualified & Transactional Credit Manager k k Payroll Manager k k Payroll Officer 60-70k 60-70k Assistant Accountant 60-75k 60-75k Credit Controller 60-70k 60-80k Accounts Payable/Receivable 50-60k 50-60k Graduate Accountant 50-55k 50-55k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 181 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

183 MELBOURNE BANKING OPERATIONS ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Banking Corporate Banking Relationship Manager k k Commercial Banking Relationship Manager k k Business Banking Relationship Manager k k Credit Analyst k k Mortgage Lender 70-90k 70-90k Branch Manager k k Credit Assessment 55-75k 60-80k Risk & Compliance Compliance Manager k k Compliance Analyst k k Operational Risk Manager k k Operational Risk Analyst k k Investment Operations Corporate Actions 50-80k 50-80k Treasury Settlements 55-70k 55-70k Equity Settlements 55-70k 55-70k Derivative Operations 60-80k 60-85k Portfolio Administration 55-75k 55-80k Performance Analyst k k Wealth Management & Superannuation Financial Planner k k Paraplanner 55-90k 55-95k Superannuation Administration 45-75k 50-80k Member Services 50-75k 55-80k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 21 Robert Walters Global Salary Survey 2016 Australia 182

184 MELBOURNE HUMAN RESOURCES & SAFETY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Generalist HR Director k k HR Manager k k HR Business Partner k k HR Advisor k k HR Consultant 75-90k 75-90k HR Officer/Co-ordinator 60-70k 60-75k Specialist Industrial/Employee Relations Manager k k Industrial/Employee Relations Advisor k k Remuneration & Benefits Manager k k Change Manager k k Change Analyst k k Organisational Development Manager k k Learning & Development Manager k k Learning & Development Consultant k k Instructional Designer k k Talent Acquisition Manager k k Talent Management Consultant 70-90k k Recruitment Officer/Co-ordinator 55-65k 65-75k NB:Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 183 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

185 MELBOURNE INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Management CIO/CTO k k Projects Project Manager k k Change Manager k k Programme Manager k k Business Analyst k k Project Co-ordinator/Administrator k k ERP/CRM/BI Senior Consultant k k Consultant k k Architecture Enterprise Architect k k Solutions/Technical/Security Architect k k Pre-sales Consultant k k Development/Testing DevOps k k Senior Developer k k Developer k k UX/UI Designers/Digital Producer k k Test Manager/QA Manager k k Test Analyst k k Infrastructure System Administrator k k Helpdesk/Desktop Support 50-70k 50-80k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 23 Robert Walters Global Salary Survey 2016 Australia 184

186 MELBOURNE SALES, MARKETING & COMMUNICATIONS ROLE PERMANENT SALARY PER ANNUM AUD ($) Sales Sales Director k k State Sales Manager k k Sales Manager k k Sales Executive k k Account Manager k k Business Development Manager k k Marketing Marketing Director k k Direct Marketing Manager k k Digital Marketing Manager k k Marketing Manager k k Marketing Executive 70-95k 70-95k Product/Brand Manager k k Campaign Manager k k Product Specialist k k Communications Communications Manager k k Communications Executive 65-90k 65-90k Retail Head of Retail Operations k k Area Manager 65-95k k Buyer k k General Manager Planning k k Planning Manager k k Planner k k Store Manager (Big Box) k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 185 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

187 MELBOURNE SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Business Support Executive Assistant - Banking k k Executive Assistant k k Office Manager 65-85k 65-85k Personal Assistant 65-75k 65-75k Legal Secretary/Assistant 57-80k 57-80k Team Assistant 55-65k 55-65k Human Resource Administrator 50-63k 50-63k Facilities Co-ordinator 50-65k 50-65k Administration Assistant 50-60k 45-60k Receptionist 45-58k 45-58k Data Entry Operator 40-50k 40-50k Mail Room Assistant 40-45k 40-45k Office Junior 40-45k 40-45k Project Support Tender Co-ordinator 70-85k 70-85k Tender Formatter 65-75k 65-75k Document Controller 60-75k 60-75k Project Administrator/Assistant 55-80k 55-80k Call Centre Support Contact Centre Manager k k Team Leader 65-80k 65-80k Faults/Dispatch Consultant 55-60k 55-60k Outbound Customer Service 45-55k 45-55k Inbound Customer Service 45-55k 45-55k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 25 Robert Walters Global Salary Survey 2016 Australia 186

188 PERTH ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Executive Chief Financial Officer k k Group Financial Controller k k Financial Controller k k Tax Manager k k Qualified Senior Financial/Management Accountant k k Financial/Management Accountant k k Tax Accountant k k Business/Financial Analyst k k Part-qualified & Transactional Payroll Manager k k Payroll Clerk 55-65k 55-65k Accounts Payable Manager 75-90k 70-85k Accounts Payable Clerk 55-65k 55-65k Credit Control Manager 75-90k k Bookkeeper 60-75k 60-75k Credit Controller 55-65k 50-65k Assistant Accountant 60-75k 60-75k Accounts Assistant 55-70k 50-65k Public Practice & Insolvency Manager k k Assistant Manager k k Senior/Supervisor 70-90k 70-90k Intermediate 55-70k 55-70k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 187 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

189 PERTH INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Management Infrastructure/Development/BI Manager k k Programme Manager k k Senior Project Manager k k Project Manager k k Senior Business Analyst k k Business Analyst k k ERP/CRM/BI Senior Consultant k k Consultant k k Architecture/Development/Testing Solutions/Technical/Security Architect k k Enterprise Architect k k Senior Developer k k Developer 70-90k 65-90k Test Manager/Test Lead k k Test Analyst 65-85k 60-85k Infrastructure Senior Network/System Engineer k k Network/System Engineer k k Senior System Administrator k k System Administrator 65-90k 65-90k Helpdesk/Desktop Support 50-75k 50-70k Sales Business Development Manager k* k* Account Manager k* k* NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. *OTE. 27 Robert Walters Global Salary Survey 2016 Australia 188

190 PERTH RESOURCES, ENGINEERING & CONSTRUCTION ROLE PERMANENT SALARY PER ANNUM AUD ($) Engineering Engineering Manager k k Principal Engineer k k Senior Engineer k k Structural Engineer k k Mechanical Engineer k k Electrical Engineer k k Construction Construction Manager k k Commercial Manager k k Project Manager k k Site Manager k k Supervisor k k Estimating Manager k k Estimator k k Contract Administrator k k Residential Construction Construction Manager k k Supervisor k k Estimator k k Scheduler 60-80k 60-76k Contracts Administrator 55-75k 55-70k Draftsperson 55-70k 50-65k Designer 70-90k 66-85k Pre-start Consultant 55-65k 55-65k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses and site uplifts unless otherwise specified. 189 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

191 PERTH SALES, MARKETING & COMMUNICATIONS BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM AUD ($) Retail Premium Relationship Manager k k Portfolio Director k k Business Agribusiness Relationship Manager k k Emerging Markets Relationship Manager k k Business Relationship Manager k k SME Relationship Manager k k Assistant Manager 60-80k 60-85k Corporate Assistant Manager 80-90k 80-90k Relationship Manager k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 29 Robert Walters Global Salary Survey 2016 Australia 190

192 PERTH SALES, MARKETING & COMMUNICATIONS COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Sales SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) National Sales Manager k k State Sales Manager k k Sales Executive 65-80k 70-85k Business Development Manager k k Key Account Manager 70-80k 75-85k Territory Manager 65-75k 70-80k Marketing Marketing Manager k k Marketing Assistant 70-80k 70-80k Communications Communications Executive k k Corporate PR Manager k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 191 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

193 PERTH SECRETARIAL, BUSINESS SUPPORT & HUMAN RESOURCES ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Secretarial & Business Support Executive Assistant k 75-90k Personal Assistant 65-85k 65-80k Administration Assistant 45-65k 45-65k Office Manager 65-80k 65-80k Receptionist 45-60k 45-55k Legal Secretary 60-80k 60-80k Document Controller k 70-90k Project Administrator 55-70k 55-70k Human Resources HR Manager k k HR Advisor 75-90k 70-90k HR Administrator 55-70k 55-70k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 31 Robert Walters Global Salary Survey 2016 Australia 192

194 SYDNEY ACCOUNTING & FINANCE BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT Executive SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Financial Controller k k Programme Manager k k Finance Manager k k Accountants Financial/Fund Accountant (8+ yrs' PQE) k k Financial/Fund Accountant (4-7 yrs' PQE) k k Financial/Fund Accountant (0-3 yrs' PQE) k k Tax Accountant (8+ yrs' PQE) k k Tax Accountant (4-7 yrs' PQE) k k Tax Accountant (0-3 yrs' PQE) k k Product Accountant (8+ yrs' PQE) k k Product Accountant (4-7 yrs' PQE) k k Product Accountant (0-3 yrs' PQE) k k Management Accountant (8+ yrs' PQE) k k Management Accountant (4-7 yrs' PQE) k k Management Accountant (0-3 yrs' PQE) k k Projects Project Manager (10+ yrs' exp) k k Project Manager (6-10 yrs' exp) k k Business Analyst (6+ yrs' exp) k k Business Analyst (0-5 yrs' exp) k k NB: Salaries are inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 193 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

195 SYDNEY ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Executive SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Chief Financial Officer 250k+ 240k Financial Controller k k Qualified PQE 3+ yrs' Commercial/FP&A Manager k k Finance Manager k k Tax Manager 135k+ 130k Financial Accountant k k Management Accountant k k Treasury Accountant k k Newly-qualified Business/Financial/Commercial Analyst k k Systems Accountant k k Tax Accountant k k Management Accountant k k Financial Accountant k k Transactional Credit Manager k k Payroll Manager k k Accounts Payable/Receivable Manager k k Bookkeeper 55-80k 60-80k Accounts Payable/Receivable Officer 45-65k 50-65k Payroll Officer 45-70k 55-70k Assistant Accountant 55-70k 55-75k Credit Controller 50-65k 50-65k Accounts Assistant 50-65k 48-65k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 33 Robert Walters Global Salary Survey 2016 Australia 194

196 SYDNEY BANKING OPERATIONS ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Funds & Custody Head of Operations 150k+ 160k Operations Manager k k Corporate Actions 65-75k 70-85k Trade Support k k Performance Analyst k k Client Services Officer 50-70k 55-80k Fund/Operations Administrator 50-60k 50-60k Retail Banking Team Leader k k Client Services 55-65k 55-65k Investment & Corporate Banking Team Leader k k Settlements - FI/Equity/Deriv/FX 60-85k 60-85k Client Onboarding Officer 60-70k 65-75k Wealth Management Senior Financial Planner k k Financial Planner k k Paraplanner 65-85k 75-85k Insurance Senior Insurance Claims Officer k k Insurance Claims Officer 70-85k 70-85k Projects Project Manager 140k+ 140k Business Analyst 90k+ 90k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 195 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

197 SYDNEY HUMAN RESOURCES & SAFETY ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER DAY AUD ($) Generalist HR Director k k HR Manager k k HR Business Partner k k HR Advisor k k HR Officer/Co-ordinator 71-80k 70-85k HR Administrator 60-70k 60-70k Specialist Head of Remuneration & Benefits k k Compensation & Benefits Manager k k Compensation & Benefits Consultant k k Organisational Development Specialist k k HR Change Manager k k Learning & Development Manager k k Learning & Development Consultant k k Instructional Designer k k Recruitment Manager k k Recruitment Advisor k k Industrial/Employee Relations Manager k k Workforce Planning Manager k k Workforce Planning Consultant k k HR Information Analyst k k WHS WHS Manager k k WHS Advisor k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 35 Robert Walters Global Salary Survey 2016 Australia 196

198 SYDNEY INFORMATION TECHNOLOGY BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT Management SALARY PER ANNUM AUD ($) RATE PER DAY AUD ($) Head of PMO/PMO Manager k k Head of Infrastructure/Development k k Programme/Portfolio Manager k k Senior Project Manager k k Project Manager k k Project Co-ordinator/PMO Analyst k k Service Delivery Manager k k Senior Business/Systems Analyst k k Business/Systems Analyst k k Architecture Enterprise Architect k k Solutions/Technical Architect k k ERP/CRM/BI ERP/CRM/BI Consultant k k Testing/Development Senior Developer k k Developer k k Test Manager k k Test Lead k k Test Analyst k k Infrastructure Network Engineer k k Systems Engineer k k Systems Administrator k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 197 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

199 SYDNEY INFORMATION TECHNOLOGY COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Management SALARY PER ANNUM AUD ($) RATE PER DAY AUD ($) Programme Manager k k Senior Project Manager k k Project Manager k k Project Co-ordinator/Administrator 60-90k 60-95k Senior Business Analyst k k Business Analyst k k ERP/CRM/BI Senior Consultant k k Consultant k k Architecture Enterprise Architect k k Solutions/Technical/Security Architect k k Development/Testing UX/UI Designers k k Mobile Applications Developer k k Senior Developer k k Developer k k Test Lead k k Test Analyst 60-95k k Infrastructure Senior Network/System Engineer k k Network/System Engineer k k System Administrator k k Database Administrator k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 37 Robert Walters Global Salary Survey 2016 Australia 198

200 SYDNEY LEGAL ROLE PERMANENT SALARY PER ANNUM AUD ($) Private Practice 8+ yrs' PQE 200k+ 220k+ 7 yrs' PQE k k 6 yrs' PQE k k 5 yrs' PQE (SA Level) k k 4 yrs' PQE k k 3 yrs' PQE k 90-95k 2 yrs' PQE 80-95k 82-95k 1 yr PQE 70-85k 70-85k Company Secretary 6-8 yrs' exp k k 3-5 yrs' exp k k In-house Counsel 8+ yrs' PQE 180k+ 200k+ 7 yrs' PQE k k 6 yrs' PQE k k 5 yrs' PQE (SA Level) k k 4 yrs' PQE k k 3 yrs' PQE k k 2 yrs' PQE k k 1 yr PQE 80-90k 70-95k Paralegal Senior k k Junior 50-70k 50-80k Document Reviewer 52-75k 52-75k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 199 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

201 SYDNEY PROCUREMENT, SUPPLY CHAIN & LOGISTICS ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER DAY AUD ($) Procurement CPO k k Procurement Director k k Procurement Manager k k Senior Category Manager k k Junior Category Manager k k Procurement Analyst k k Procurement Officer 65-85k 65-85k Supply Chain Supply Chain Director k k Supply Chain/Operations Manager k k S&OP Planning Manager k k Purchasing Manager k k Demand Planner k k Supply Planner 75-95k 75-95k Supply Chain Co-ordinator 65-85k 65-85k Logistics DC Manager k k DC Operations Manager k k Logistics Manager k k Warehouse/Shift Manager k k Inventory Controller k k Transport Manager k k Transport Supervisor 70-80k 70-85k Import/Export Officer 55-75k 55-75k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 39 Robert Walters Global Salary Survey 2016 Australia 200

202 SYDNEY RISK MANAGEMENT, COMPLIANCE & AUDIT ROLE PERMANENT SALARY PER ANNUM AUD ($) 0-4 YRS' EXP 4-8 YRS' EXP 8+ YRS' EXP Risk Management Operational Risk Manager 60-90k k k k 160k+ 160k+ Credit Risk Management 60-90k 60-90k k k 170k+ 170k+ Market Risk k k k k 170k+ 180k+ Quantitative Risk k k k k 220k+ 220k+ Anti-Money-Laundering k k k k 170k+ 200k+ Compliance Investment Banking k k k k 190k+ 200k+ Retail Banking k k k k 165k+ 170k+ Funds Management k k k k 175k+ 180k+ Internal Audit Investment Banking k k k k 160k+ 160k+ Retail Banking 55-90k 60-90k k k 150k+ 150k+ Funds Management 55-90k 60-90k k k 150k+ 150k+ Credit Analysis Retail Banking 50-70k 55-75k k k 130k+ 135k+ Corporate Banking 70-90k 70-90k k k 140k+ 150k+ Financial Institutions 70-90k k k k 150k+ 160k+ NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 201 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

203 SYDNEY SALES, MARKETING & COMMUNICATIONS BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT Sales Head of Sales k k Business Development Manager k k Relationship Manager k k Marketing Head of Marketing k k Senior Marketing Manager k k SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Marketing Manager k k Digital Marketing Manager k k Marketing Executive 75-90k 75-95k Marketing Co-ordinator 65-85k 65-85k Product Manager k k Communications Manager k k Campaign Manager k k Events Manager k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 41 Robert Walters Global Salary Survey 2016 Australia 202

204 SYDNEY SALES, MARKETING & COMMUNICATIONS COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT IT&T SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Sales Director k k Sales Manager k k Business Development Manager k k Account Manager k k Channel Manager k k Inside Sales Executive 55-90k 60-90k Pre-sales Consultant k k Marketing Director 160k+ 170k Channel Marketing Manager k k Marketing Manager k k Digital Marketing Manager k k Product Manager k k Marketing Executive 75-90k 75-95k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 203 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

205 SYDNEY SALES, MARKETING & COMMUNICATIONS COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Industrial Sales SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Sales Director k k Sales Manager k k Sales Executive 55-75k 55-75k National Business Development Manager k k National Account Manager k k Business Development Manager k k Consumer Goods Sales Director 250k+ 250k National Sales Manager k k National Business Manager k k National Account Manager k k Sales Executive 55-75k 55-80k Marketing Director 160k+ 170k Marketing Manager k k Senior Brand Manager k k Brand Manager k k Senior Category Manager k k Category Manager k k Insights Manager k k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 43 Robert Walters Global Salary Survey 2016 Australia 204

206 SYDNEY SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM AUD ($) RATE PER HOUR AUD ($) Secretarial Executive Assistant k k Office/Administration Manager 65-90k 65-87k Personal Assistant 60-80k 65-80k Trade Floor Secretary 70-80k 70-85k Legal Secretary 65-80k 65-80k Desktop Publisher 70-80k 70-80k Bid Co-ordinator 70-85k 70-85k Team Assistant 55-65k 55-65k Site Secretary 60-65k 60-65k Project Co-ordinator 60-75k 65-80k Sales Co-ordinator 60-65k 60-65k Administration Assistant 55-60k 50-60k Office Junior 40-45k 40-48k Receptionist 45-60k 45-60k Document Controller 65-75k 65-75k Data Entry Operator 40-45k 40-45k Mailroom Assistant 40-45k 42-45k Facilities Manager k k Facilities Co-ordinator 55-65k 55-65k Customer Service Customer Service Manager k k Customer Service Team Leader 55-80k 60-70k Customer Service Representative 45-60k 50-60k NB: Figures are salaries inclusive of superannuation, but exclusive of benefits/bonuses unless otherwise specified. 205 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

207 New Zealand Auckland Wellington THE FIRST HALF OF 2015 SAW BUOYANT HIRING LEVELS ACROSS THE NEW ZEALAND JOBS MARKET. Activity decreased somewhat during the second part of the year as less than positive economic news emerged from China, and as prices declined across the critically important New Zealand dairy industry INSIGHT Despite confidence reducing towards the end of the year, qualified professionals were in particularly strong demand across sales and marketing, finance, IT and legal EXPECTATIONS We are cautiously optimistic for 2016, anticipating that recruitment levels will be broadly similar to those seen in However, we expect demand to be especially sensitive to wider economic conditions as New Zealand is increasingly exposed to global market forces. Competition will be particularly intense for experienced financial and commercial managers across all markets. Companies in the financial services and telecommunications industries will seek new ways of maximising returns from their existing client base as 2016 progresses, resulting in heightened demand for sales and digital marketing professionals with customer retention and business development experience. The New Zealand banking sector is maturing fast and there will be increased demand for compliance and risk professionals. Those with experience of implementing new legislative requirements will be particularly popular hires. In the absence of home-grown talent in this area, banks will need to look for candidates from overseas, including Australia, the UK and the US. Shortages of available talent will drive salaries upwards in a number of markets. Middle to senior-level finance, legal and procurement professionals, as well as salespeople with a proven success record, will be able to command increases when moving jobs. Digital marketing specialists practised in customer retention and data analytics will also expect significant raises. However, salaries will not increase across every sector and we are not expecting to see any incremental growth among non-movers in Exceptions may arise when companies make counter-offers in an attempt to prevent valued employees from leaving. In such circumstances, we recommend that employers whether seeking to attract or retain a professional also consider how to enhance the overall competitiveness of their offer and explore options like flexible working conditions, as well as increased salaries. We also recommend that companies seeking new employees are clear and decisive about the attributes they are looking for in candidates. Throughout 2016 and beyond, hiring managers will need to identify talent quickly and act fast to secure the professionals they want. New Zealand 206

208 New Zealand We recommend that employers, whether seeking to attract or retain professionals, consider how to enhance the overall competitiveness of their offer and explore options like flexible working conditions, as well as increased salaries. Professionals who are expecting a salary increase in % Professionals expecting to receive a bonus in % KEY FINDINGS Professionals who will be looking to move job in the next 12 months Jobseekers who would turn down a role if it did not meet their flexible working arrangements Increased demand anticipated for digital marketing specialists, as well as senior-level finance, legal procurement and IT professionals across a range of industries. 54% 40% The fluctuating fortunes of the dairy industry will continue to impact broader economic conditions in CAREER PROGRESSION Number one reason why employees will be looking to change roles Robert Walters Pay and Bonus Survey 2015, 500 respondents. 207 Robert Walters Global Salary Survey 2016

209 New Zealand OVERVIEW New Zealand ACCOUNTING & FINANCE Companies increasingly sought professionals who could act as true business partners in 2015, particularly those who could focus on improved business decision-making, and provide sound analytical and financial reasoning. As a result, demand continued to grow for commercially astute chartered accountants. This led to a shortage of the most desirable talent, namely those who have had experience of working in a corporate environment, whether within New Zealand or overseas. This trend is likely to continue in 2016 as commercial businesses face a slightly more negative economic outlook and the public sector strives to get value for money. Overall, however, we expect recruitment activity in accounting and finance to mirror the fluctuating economy in We will also see a trend towards attractive remuneration packages as candidates are no longer satisfied with base salary rises alone. To secure the best professionals, it will be important for hiring managers to act quickly and offer competitive rewards and clear career progression. BANKING & FINANCIAL SERVICES As lending remained a focus, hiring activity for key client facing roles in business, commercial and corporate banking continued in A stronger need for credit risk professionals and analysts also emerged during the year. Ongoing changes in global compliance standards will ensure the focus is on risk management and compliance roles throughout Professionals returning from positions overseas will be sought after across most areas, although the relatively small size of the New Zealand banking industry means over-qualified individuals may find it harder to find suitable roles. BUSINESS TRANSFORMATION As new projects continued to gain approval in 2015, we saw an increased requirement for temporary and permanent business transformation professionals across the public and private sectors. Strong demand for experienced business analysts is expected to continue into In particular, a high number of efficiency initiatives in the public sector means that those with process analysis, business case development and process improvement skills, will be popular hiring choices. As funding is approved and realised for projects scheduled to finish by the end of the financial year, we also expect to see increasing demand for change managers and project co-ordinators. HUMAN RESOURCES The Auckland HR job market, which was lively throughout 2015, showed a particular rise towards the end of the year. In comparison, we saw a steadier market in Wellington, with the majority of organisations only looking to recruit replacement hires. In 2016, we anticipate demand for HR advisors in Auckland at the mid to senior level will continue. There will be an increased need for professionals with specific organisational design and workforce planning experience in Wellington. We believe salaries will remain stable for HR professionals across New Zealand and advise employers to highlight organisational culture, innovation and development opportunities to attract the people they want. INFORMATION TECHNOLOGY Many companies sought to become more digitally focused in Together with the growing need to increase IT capability within organisations, this prompted strong growth in demand for specialist knowledge in cloud services and mobile & web enablement. We expect to see a continued need for digital specialists during 2016 in the New Zealand market. There will be particularly strong demand for developers and testers in Auckland, where a series of major corporate restructures will require extra resources. We also expect high levels of competition will create major talent shortages across the architecture, digital, data and integration disciplines in Wellington. As skills shortages in IT become more prevalent, we will see an increase in salaries for the most in-demand candidates, as organisations strive to remain competitive and compete harder for a restricted pool of talent. There is also likely to be a move towards offering permanent roles to contract staff to ensure that top talent remains within the business. We strongly recommend that hiring managers are ready to act decisively once they have found the skill set they need. KEY TRENDS Competition for talent is expected to intensify as market conditions improve, resulting in skill shortages across most disciplines negotiating power will shift from hiring managers back to professionals with niche skills. Qualified professionals with both local and international work experience will continue to be in highest demand across all sectors and regions. Public sector organisations will continue to come under pressure to limit contract spend. However, despite a greater focus on fixed-term and permanent positions across most disciplines, there will continue to be a need for high-end contract hires. New Zealand 208

210 New Zealand New Zealand OVERVIEW LEGAL The legal market was buoyant in 2015, with many professionals having the confidence to move jobs a trend that we anticipate continuing in We saw increasing numbers of in-house roles in Wellington in 2015 as several organisations expanded or established new teams. In 2016, strong demand will continue for in-house lawyers with five years post-qualification experience, particularly within commercial law. Intermediate-level professionals will also be highly sought after by hiring managers in private practice firms. Auckland will continue to experience skills shortages at the three-to-six years postqualification experience level. We advise employers to consider international candidates and high-calibre domestic professionals looking to change discipline. Most legal salaries are expected to remain stable in 2016, although professionals with in-demand skills and experience could see increases of up to 20%. POLICY & REGULATORY As public sector organisations came under pressure to limit their contract spend in 2015, hiring activity was focused on fixed-term and permanent recruitment. There was strong competition for senior and principal level advisors/analysts with a minimum of five years experience, particularly those with economic or regulatory backgrounds. We expect this demand to continue throughout 2016 as organisations forge ahead with a range of significant policy initiatives. Given current public sector budget constraints, salaries are likely to remain stable. The limited pool of experienced policy and research professionals means that employers will, therefore, need to highlight culture, benefits and development opportunities to attract top-tier candidates. PROCUREMENT & SUPPLY CHAIN Several large organisational restructures that took place in Auckland during 2015 resulted in 209 Robert Walters Global Salary Survey 2016 increased hiring for procurement and supply chain professionals, which drove a positive recruitment market throughout the year. Skills shortages for mid-level procurement professionals in Auckland and Wellington will continue to affect the market in Indeed, the New Zealand Government has recently added procurement manager to its Long Term Skill Shortage List. We anticipate these trends will continue throughout 2016 and, in order to fill companies skills gaps, we advise employers to look to candidates returning to New Zealand. Competition for such individuals is likely to be intense however, and we recommend that hiring managers act quickly to secure their preferred candidates before they receive too many alternative offers. Wellington s procurement market will continue to be driven by public sector projects in Following the implementation of strategy and reviews, we will see a continued demand for contractors to implement business as usual processes. PROPERTY & FACILITIES MANAGEMENT Similar to 2015, the market will continue to be influenced by the New Zealand Government building up its internal property management capability in Skill shortages will increase competition for proven construction project managers, relocation experts and health and safety managers. As a result, we anticipate an increase in salaries for these areas as the retention of professionals with key skills becomes crucial. We recommend that hiring managers focus on streamlining their recruitment processes to avoid missing out on top talent. In particular, to remain competitive they should review their offering, particularly in terms of flexible working and training and development programmes. SALES, MARKETING & COMMUNICATIONS Hiring activity for sales, marketing and communications professionals increased across New Zealand in We saw a particular focus on business development experts and digital specialists. In 2016 we expect to see continued demand for sales professionals, internal communications specialists and digital marketing professionals in Auckland, particularly within the FMCG sector and across the service industry. Organisations in Wellington will seek professionals with strong marketing analysis skills as well as product development and change communications experience. As markets become more competitive, we expect that sales professionals who can demonstrate a good business development track record will be highly desirable. Marketing experts with international digital experience from more mature foreign markets, will also be particularly sought after. We advise employers to carefully consider what they offer employees. As well as an appealing salary, candidates will often seek flexible working conditions and work-life balance. SECRETARIAL & BUSINESS SUPPORT Hiring activity for secretarial and business support differed significantly between locations during 2015, with a focus on contract and temporary hiring in Auckland and permanent hiring in Wellington. We did, however, see a trend towards much faster recruitment processes across both markets as a result of shortages in certain areas. Auckland will continue to see demand for project coordinators, customer service representatives and data administrators in This will prompt a rise in salaries for job movers with these skills. In Wellington, we anticipate a continued push towards the shared services business model, creating a greater need for support staff with project-specific experience. This will lead to increased levels of contract hiring, and shortages will emerge among such project administrators and co-ordinators.

211 AUCKLAND ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Executive Chief Financial Officer k k Financial Controller k k Commercial Manager k k Finance Manager k k Qualified Tax Accountant k k Commercial Analyst k k Financial Analyst (5+ yrs exp) k k Financial Analyst (0-4 yrs exp) 60-90k 70-95k Financial Accountant (5+ yrs exp) k k Financial Accountant (0-4 yrs exp) 70-90k 70-95k Management Accountant (5+ yrs exp) k k Management Accountant (0-4 yrs exp) 70-90k 70-95k Systems Accountant k k Payroll Manager k k Credit Manager k k Part & Non-qualified Accounts Payable/Receivable - Manager 65-85k 65-90k Financial Accountant - Degree 60-80k 65-85k Assistant Accountant 55-70k 60-70k Credit Controller 50-65k 50-65k Accounts Assistant 45-55k 50-60k Payroll Clerk/Payroll Officer 50-65k 50-65k Accounts Payable/Receivable 45-55k 50-60k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

212 AUCKLAND BANKING & FINANCIAL SERVICES ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Banking Relationship Manager k k Relationship Associate 60-85k 60-85k Business Development Manager/Sales k k Business Analyst k k Mortgage/Lending Manager 70-95k 70-95k Risk, Compliance & Operations Credit Analyst 60-90k 60-90k Market Risk Analyst k k Compliance Officer k 65-90k Risk & Compliance Manager k k Settlements/Corporate Actions 55-70k 55-70k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified Robert Robert Walters Walters Global Global Salary Salary Survey Survey

213 AUCKLAND HUMAN RESOURCES & OH&S ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Generalist HR Director k k HR Manager k k HR Business Partner k k HR Consultant k k HR Analyst 65-95k 65-95k HR Advisor 60-95k 65-90k HR Co-ordinator 45-62k 50-65k HR Administrator 40-55k 45-55k Specialist Change Manager 130k+ 130k Organisational Development Manager k k Remuneration Manager k k Learning & Development Manager k k Recruitment Manager k k Organisational Development Consultant k k Training Manager 65-95k k Learning & Development Advisor 65-82k 65-85k Remuneration Officer 60-85k 60-85k Recruitment Advisor 60-85k 65-85k Training Facilitator 50-70k 50-75k Learning & Development Co-ordinator 45-55k 50-65k OH&S Manager k k Officer 55-80k 55-80k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

214 AUCKLAND INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Projects Programme Manager k k Senior Project Manager k k Senior Business Analyst k k Project Manager k k Business Analyst 75-95k k Project/Programme Co-ordinator 60-80k k Infrastructure CIO/CTO 180k+ 180k Solution Architect - Applications k k Manager - IT Operations k k Security Specialist k k Manager - Service Desk 75-90k k Systems Administrator 55-70k 55-70k Help Desk/Desktop/Apps Support 45-60k 45-65k Development/Testing Manager - Development k k Manager - Testing k k Senior Developer -.Net, Java k k Developer -.Net, Java 55-80k 55-85k Senior Tester 70-90k 75-95k Tester 50-70k 50-75k Business Intelligence BI Manager k k BI Analyst k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified Robert Robert Walters Walters Global Global Salary Salary Survey Survey

215 AUCKLAND LEGAL ROLE PERMANENT SALARY PER ANNUM NZD ($) Private Practice Partner 120k+ 125k+ Senior Associate k k Associate k k Senior Solicitor k k 3 yrs' PQE 55-85k 55-85k 2 yrs' PQE 45-65k 45-70k 1 yr PQE 40-60k 40-60k Graduate 40-45k 40-45k In-house General Counsel/Chief Legal Advisor 150k+ 150k+ Senior Legal Counsel/Solicitor k k Legal Counsel/Solicitor k k Graduate 40-50k 40-50k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

216 AUCKLAND PROCUREMENT & SUPPLY CHAIN ROLE PERMANENT SALARY PER ANNUM NZD ($) Procurement Robert Robert Walters Walters Global Global Salary Salary Survey Survey Procurement Director k k+ Procurement Manager k k Strategic Sourcing Manager k k Contracts/Relationship Manager k k Procurement Specialist k k Supply Chain Demand/Supply Planning Manager k k Operations Manager k k Supply Chain Manager k k Demand/Supply Planner k k Logistics Manager k k SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT CONTRACT Business Support SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Executive Assistant 75-95k 70-90k Office Manager 50-70k 50-70k Personal Assistant 55-70k 55-70k Team Administrator 42-55k 45-55k Corporate Receptionist 45-52k 40-50k Marketing Administrator 40-50k 40-50k Sales Administrator 45-55k 45-55k Administrator 40-55k 40-55k Contact Centre Team Leader 65-75k 55-70k Customer Service Administrator 35-45k 38-45k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified.

217 AUCKLAND SALES, MARKETING & COMMUNICATIONS ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Sales Sales Director k k National Sales Manager k k National Account Manager k k Business Development Manager k k Key Account Manager k k Account Manager 70-85k 70-85k Sales/Market Analyst 65-80k 68-80k Sales/Account Executive 60-80k 60-80k Territory Manager/Sales Rep 55-70k 55-75k Sales Co-ordinator 45-55k 45-55k Marketing Marketing Director k k Marketing Manager k k Category Manager k k Product Manager k k Digital/Online Manager k k Sponsorship & Events Manager k k Trade Marketing Manager k k Brand Manager k k Assistant Brand/Product Manager 60-75k 65-75k Marketing Co-ordinator 45-60k 48-60k Communications PR/Corporate Affairs Manager k k Communications Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

218 WELLINGTON ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Executive Chief Financial Officer k k Financial Controller k k Tax Accountant k k Finance Manager k k Qualified Management Accountant (6+ yrs exp) k k Financial Accountant CA (5+ yrs exp) k k Financial Analyst (5+ yrs exp) k k Cost Accountant k k Treasury Accountant k k Systems Accountant k k Management Accountant (3-5 yrs exp) 80-95k 80-95k Financial Analyst (0-4 yrs exp) 70-90k 70-90k Financial Accountant CA (0-4 yrs exp) 70-90k 70-90k Credit Manager 60-90k 60-90k Auditor k k Part & Non-qualified Financial Accountant - Degree 65-85k 60-75k Accounts Payable/Receivable - Manager 70-85k 70-80k Assistant Accountant 50-65k 50-65k Credit Controller 45-60k 45-65k Accounts Assistant 45-55k 45-55k Payroll Clerk/Payroll Officer 40-60k 40-60k Accounts Payable/Receivable 40-60k 50-60k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified Robert Robert Walters Walters Global Global Salary Salary Survey Survey

219 WELLINGTON BUSINESS TRANSFORMATION ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Business Transformation Programme Director k k EPMO Manager k k Risk & Assurance Consultant k k IQA Professional k k Programme Manager k k Business Transformation Specialist k k Business Change Manager k k Business Analyst k k EPMO Analyst k k Project Manager k k Project/Programme Co-ordinator 55-85k 60-90k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

220 WELLINGTON HUMAN RESOURCES & OH&S ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Generalist HR Director k k HR Manager k k HR Consultant k k HR Advisor 60-85k 60-95k HR Analyst k k HR Administrator 40-60k 40-60k Specialist Learning & Development Manager k k Organisational Development Consultant k k Learning & Development Advisor k 65-90k Learning & Development Co-ordinator 50-65k 50-65k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified Robert Robert Walters Walters Global Global Salary Salary Survey Survey

221 WELLINGTON INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) ICT Chief Information Officer k k Chief Technology Officer k k Enterprise Architect k k Programme Manager k k Manager - Development k k Solution Architect - Infrastructure/Applications k k Release Manager k k Project Manager k k Security Specialist k k Business Analyst k k Manager - Service Desk 75-95k k Development/Testing Senior BI Specialist k k UX Developer k k Web Developer k k Developer -.Net, Java k k Test Analyst k k Infrastructure Database Administrator k k Network Engineer k k Systems Administrator k k Service Desk/Desktop/Apps Support 55-85k 55-85k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

222 WELLINGTON LEGAL ROLE PERMANENT SALARY PER ANNUM NZD ($) Private Practice Partner 120k+ 120k+ Senior Associate k k Associate k k Senior Solicitor k k 3 yrs' PQE 55-85k 55-85k 2 yrs' PQE 45-65k 45-65k 1 yr PQE 40-60k 40-60k In-house General Counsel/Chief Legal Advisor 170k+ 180k+ Senior Legal Counsel/Solicitor k k Legal Counsel/Solicitor 50-75k 60-80k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified Robert Robert Walters Walters Global Global Salary Salary Survey Survey

223 WELLINGTON POLICY & REGULATORY ROLE PERMANENT CONTRACT Policy SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) General Manager Policy k k Chief Policy Analyst/Advisor k k Principal Policy Analyst/Advisor k k Policy Manager k k Senior Policy Analyst/Advisor k k Policy Analyst/Advisor 60-90k 65-90k Research & Evaluation Manager, Research & Evaluation k k Principal Research Analyst k k Senior Research Analyst k k Research Analyst 58-77k 60-80k SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT SALARY PER ANNUM NZD ($) Executive Assistant 65-80k 68-80k Office Manager 60-78k 65-79k Personal Assistant 58-67k 60-67k Legal Secretary 59-65k 55-62k Project Administrator 42-55k 45-53k Procurement Administrator 45-55k 45-55k Office Administrator 40-50k 41-52k Team Assistant 45-53k 45-58k Marketing Administrator 45-55k 45-54k Corporate Receptionist 40-53k 40-50k Receptionist 38-45k 39-45k Data Entry Operator 38-45k 38-43k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

224 WELLINGTON PROCUREMENT & SUPPLY CHAIN ROLE PERMANENT CONTRACT Procurement Robert Robert Walters Walters Global Global Salary Salary Survey Survey SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Procurement Director k k Procurement Manager k k Procurement Specialist k k Contracts Manager k k Tenders Advisor 55-70k 50-70k Contracts Administrator 45-65k 45-65k Procurement Co-ordinator 40-55k 45-55k Supply Chain Supply Chain Analyst 70-90k k Supply Chain Manager k k Operations Manager k k PROPERTY & FACILITIES MANAGEMENT ROLE PERMANENT SALARY PER ANNUM NZD ($) Facilities Management Facilities Manager k k Facilities Advisor k k Asset Manager k k Facilities Co-ordinator 40-65k 45-70k Contracts Manager k k Project Manager k k Project Co-ordinator 50-80k 50-80k Property Director of Property k k Property Manager k k Property Specialist 55-90k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified.

225 WELLINGTON SALES, MARKETING & COMMUNICATIONS ROLE PERMANENT CONTRACT SALARY PER ANNUM NZD ($) RATE PER HOUR NZD ($) Sales National Sales Manager k k Key Account Manager k k Business Development Manager k k Territory Manager 60-85k 60-85k Sales/Account Manager k k Sales Representative 50-80k 50-80k Marketing Marketing Manager k k Trade Marketing Manager k k Market Research/Insights Manager k k Category Manager k k Sponsorship & Events Manager k k Channel Manager k k Marketing Co-ordinator 60-75k 60-75k Assistant Brand/Product Manager 55-80k 60-85k Communications Communications Manager k k Senior Communications Advisor k k Internal/Change Communications Manager k k Communications Advisor 55-75k 55-75k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Salary New Survey Zealand

226 China Beijing Shanghai Suzhou THE RECRUITMENT MARKET IN CHINA GREW AT A CONSERVATIVE PACE IN WHILE COMPANIES WERE MORE CAUTIOUS ABOUT ADDING NEW HEADCOUNT, HIRING FOR REPLACEMENT-BASED AND STRATEGIC POSITIONS CONTINUED TO DRIVE RECRUITMENT ACTIVITY AND THE DEMAND FOR TOP CANDIDATES INSIGHT Although fewer new positions came to market as companies scaled back their expansion plans, there were key pockets of hiring activity. The IT recruitment market was very strong in 2015 with many new positions created. For example, the government s Internet Plus strategy, which aims to drive growth by integrating internet technologies with business, rapidly increased the demand for IT and internet-related talent. Emerging industries such as pharmaceuticals, medical devices and healthcare also showed promising growth as a result of the country s ageing population and increasing focus on health and well-being. The slowdown in hiring was more apparent in the manufacturing sector due to the rising costs of operating in China, however there were still opportunities for professionals with niche expertise. As manufacturers focused on cost savings and improving business efficiency 225 Robert Walters Global Salary Survey 2016 through centralising resources, process reengineering and automation, professionals experienced in purchasing, planning, supplier/ vendor management, R&D and lean operations were sought after. The emphasis on improving product quality to stay competitive also meant that engineers and project & product development managers with strong technical skills were in high demand. After several years of rapid growth in salaries across China, the level of salary increments slowed in The average rise was still positive: 10-20% for job movers and 5-7% for those who stayed at their current company. Some professionals were even willing to accept the same or a reduced salary to move to a more promising company or industry EXPECTATIONS Overall, we anticipate stable hiring levels in 2016 as the recruitment market continues to mature and evolve. The IT industry will continue to be a key driver for growth. Digital, mobile and e-commerce related business will also carry on growing in importance across China, increasing the demand for user-experience specialists, mobile engineers and software developers. While companies are likely to remain costconscious, increasing profits is still a more important item on the agenda. Therefore, sales managers with a strong track record of performance will be in high demand to help grow revenue and develop new markets. In the banking and financial services sector, we expect to see more growth in non-traditional areas, such as wealth management, asset management and internet finance. Within middle and back office functions, risk, compliance and audit will continue to be a priority in With more mergers, acquisitions and restructurings on the horizon, we anticipate jobseekers will place more emphasis on job security in the year ahead. We therefore expect to see much less job-hopping than in previous years as candidates focus on gaining more experience and developing their skill sets in their job. Consequently, professionals will be more selective when choosing a new role. Similarly, companies will be stricter with their hiring requirements, focusing on candidates who can add real value to the business. Bilingual professionals with regional experience and strong commercial acumen will be highly sought after by companies across sectors.

227 We anticipate stable hiring levels in 2016 as the recruitment market continues to mature and evolve. + 4% (AJI) Year-on-year increase in the number of jobs advertised in China + 22% Year-on-year increase in advertised roles in information technology + 14% (AJI) (AJI) Year-on-year increase in advertised roles in accounting and finance China KEY FINDINGS Chinese candidates who would turn down a job offer due to a poor interview experience (Whitepaper) Chinese candidates who want to meet their team during the interview process (Whitepaper) The IT sector will continue to outperform and act as a key driver for growth in 2016 demand will be particularly high for user-experience specialists, mobile engineers and software developers across digital-related businesses. With consolidation expected across the business environment, candidates will place a higher emphasis on the potential of the position and the organisation when making their next career move. 57% 39% TOP 4 SECTORS BY ADVERTISED JOB VOLUME Information technology Merchandising & purchasing Accounting & finance AJI: Robert Walters Asia Job Index, Q1-Q v 2015 Whitepaper: Robert Walters Research, Optimising the Interview Process 2015, 1,570 respondents 4 (AJI) Sales & business development China 226

228 China China OVERVIEW ACCOUNTING & FINANCE BEIJING The Beijing jobs market was stable in Positions were mainly replacement-based, particularly in slower-growing industries, while sectors experiencing faster growth, such as IT&T, pharmaceuticals and healthcare, added new headcount. To help reduce costs, financial planning and analysis (FP&A) professionals and finance managers with this experience were most in demand. Salaries are likely to remain flat in 2016 and candidates will increasingly look for more responsibility, training opportunities and international rotations when considering new positions. SHANGHAI Companies continued to seek technically strong, commercially-orientated finance professionals who could interact with the wider business, as finance became less of a reporting function to one supporting business decisions. The increasing expectation for senior finance professionals to take a key position in steering the strategic direction of the business has meant increasingly tight competition for this unique skill set across all sectors. Similar to Beijing, companies in Shanghai focused on reducing costs. In 2016, people with this experience and shared services centre expertise will be in high demand, as will bilingual candidates. Salary increments slowed down and we saw mid-level job movers receive 15-20% increases, while non-movers received 5-7% increments. Meanwhile, senior-level professionals focused on wider benefits beyond salary. KEY TRENDS SUZHOU There was stable growth in recruitment in Positions in Suzhou were mainly replacementbased while investment in nearby cities, such as Taicang and Changshu, saw new roles being created. Professionals with good business acumen will continue to be in demand in 2016 as the growth of domestic business and the local government encourages the development of the services industry. With more uncertainties in the economy, companies sought to keep costs down and this drove the demand for professionals experienced in costing, controlling and business analysis this is likely to continue in the near future. Commercially-minded finance and FP&A managers were also needed as China continues to become a more important market for multinational corporations. The average salary increment was 20% for new roles and 5-8% for non-movers; this is likely to continue in BANKING & FINANCIAL SERVICES The economic slowdown affected banks hiring appetite in 2015, however, recruitment across the financial services sector remained active. The biggest growth was seen in local financial services firms and non-traditional financial services areas, such as internet finance and wealth management. Some smaller financial services firms for example, those providing online trading platforms and financial market data established or expanded their presence in China, which led to increased demand across the front, middle and back office functions. Within the front office, there was an ongoing call for relationship managers to help grow revenue. However, the strongest candidates proactive, results-driven professionals who know the market and have strong connections and overseas experience were hard to attract, as they were frequently given counter-offers to stay in their current roles. In the middle and back office space, growth was focused on the middle office functions of risk, compliance and audit, to ensure banks could meet their regulatory requirements. Risk was particularly active due to a new risk-based policy that insurance companies had to adopt. Looking ahead in an uncertain economy, we expect many banks to remain cautious about hiring and focus mainly on filling replacement roles. However, non-traditional banking areas, such as wealth management, asset management and internet finance will continue to grow as an expanding, affluent population seeks new channels for investment. Within middle and back office functions, risk, compliance and audit will continue to be a priority in 2016, with credit and operational risk being particular growth areas. Professionals with strong language skills, an understanding of the Chinese market and the latest regulations will be highly sought after. The average salary increment was 10-20% for job movers, although some strong candidates in talent-short areas commanded more. We anticipate similar increases in Companies will remain cautious when considering expansion and hiring plans in 2016; however the market will still be candidate driven as the demand for top talent outstrips supply. We expect continued growth in the technology, internet, pharmaceutical, medical devices and healthcare industries, creating many new positions. As companies focus on cost savings and increasing productivity through measures including centralising resources, we anticipate growth in the number of regional and corporate-based positions. After several years of rapid growth in salaries, the level of salary increments will be more stable in 2016 amid a more cautious business environment. 227 Robert Walters Global Salary Survey 2016

229 China HUMAN RESOURCES BEIJING The Beijing market was stable in 2015 with a focus on replacement hires. However, we saw new positions being created in fast-growing industries such as IT&T, pharmaceuticals and healthcare. HR continued its evolution, becoming more closely involved in the business and management, and professionals with strong commercial acumen were the most sought after. In a more conservative market, salaries were, and will continue to be, fairly flat. Therefore, employers should focus on other factors, such as offering greater responsibility, to attract talent. SHANGHAI There was significant demand in Shanghai for bilingual HR professionals, especially in large multinational companies they particularly needed HR practitioners who understood the Chinese perspective and could balance this with international best practice. There is likely to be a shift towards specialisation within HR functions in 2016, leading to a demand for specialists in areas such as talent acquisition and HR systems. More APAC regional-level roles may also become available, as the central location of Shanghai makes it a good base for China s operations. Job movers will be able to command a 10-15% salary increment in 2016, with 5-7% increases expected for those staying in their current roles. SUZHOU While manufacturing slowed in 2015, there was a greater need for HR staff in emerging sectors such as e-commerce, technology and research & development. Hiring managers particularly wanted HR professionals who were energetic, commercially-minded and experienced in complex reporting lines. Employee relations and talent management were also sought-after skill sets due to restructuring, organisational changes and development. In 2016, professionals staying in their roles can expect an 8% salary increase, while those moving jobs can expect 10% salary increments, rising to 20-25% when moving to nearby, talentshort areas such as Zhejiang. INFORMATION TECHNOLOGY The IT recruitment market was very strong in 2015 with many new positions created. New start-ups entered China, and the government s Internet Plus strategy which aims to drive economic growth by integrating internet technologies with manufacturing and business fuelled the demand for IT professionals. Internet-related talent was in highest demand this is a relatively new business area in China and there was an acute candidate shortage. Professionals with experience of data analysis, internet finance, digital and e-commerce platforms, as well as hands-on coding and programming skills, were particularly sought after. In 2016, digital, mobile and e-commerce related business will continue to grow in importance across China. This will drive demand for product and operations managers who can demonstrate expertise in user experience, develop better products and improve workflows of systems and platforms. Mobile engineers with experience on Android and ios platforms will also be popular, as will software developers with PHP and Python experience. Internet finance will remain a growth area and firms will seek professionals with experience in coding, risk control, internet security and data analysis. Companies will also actively look for business relationship managers who can work across business units to identify IT needs and support the growth of the business. Key requirements for these roles will include an in-depth understanding of the relevant industry, a background in IT, good business acumen, strategic thinking and communication skills. Overall, we expect the market to remain active in However, companies may become more pragmatic and focus on how the candidate s skill sets can add value to the business. The average salary increment for professionals moving jobs in 2015 was 20%, and this is likely to continue in However, many candidates will also consider non-monetary factors, including an organisation s management style, growth potential, and other benefits such as the availability of stock options when looking for new roles. Some are even willing to take a pay cut to move to their ideal job if the rest of the package is enticing. China 228

230 China China OVERVIEW OPERATIONS & MANUFACTURING SUZHOU ENGINEERING Despite a slowdown in the economy, the demand for technical engineering professionals in Suzhou remained stable in Senior engineers and engineering managers were the most in-demand positions. The electronics industry was, in relative terms, the most active in hiring, as sub-contractors opened offices in China and needed more staff to help manage the operations. Average salary increments were 15-20% for movers and 5-10% for non-movers. A similar trend is expected in 2016, with high demand for R&D professionals, project and product development managers, especially for talent with eight years experience or more. The sector is short of candidates and the situation is particularly acute in niche industries, such as automation and robotics. Professionals with strong technical skills will be highly sought after across industries and sub-functions, and research and development will be a key growth area. SUZHOU OPERATIONS & LEAN In 2015, the rising costs of operating in China caused a number of manufacturing plants to move to lower-cost locations and this placed a restriction on the creation of new roles. Despite this outflow, organisations maintained stable demand for replacing positions, such as plant and operations managers. Lean manufacturing was a big growth area, as companies sought to reduce waste and manage costs. Improving efficiency, as well as raising the quality and safety of the products and plants, will be a key theme for Average salary increments were 10-15% for professionals moving jobs, and 5-8% for those staying in their roles. Similar trends are expected in 2016 and talent with strong technical skills will be in demand throughout the year. Continued growth is also expected in the lean area, and an increase in automation will drive a need for such specialists. 229 Robert Walters Global Salary Survey 2016 SUZHOU QUALITY & EHS Companies continued to pay increasing attention to quality issues and environmental health and safety in 2015, partly due to the Tianjin explosions and multiple elevator incidents across the country. In 2016, the traditional manufacturing sector may continue to slow down, but more opportunities are expected in emerging industries such as e-commerce, pharmaceuticals and medical services. There will be fewer plant-level quality positions, but we expect a rise in regional and senior-level positions as companies seek to manage costs. An increase in supplier-quality positions is also expected, driven by greater numbers of trading offices in Suzhou. Average salary increments in 2015 were 15-20% for job movers and 8-10% for those staying in their roles, this will continue in SHANGHAI OPERATIONS & MANUFACTURING The manufacturing sector experienced a slowdown in Mergers in the sector created some redundancies in local plants and some factories moved out of Shanghai due to rising costs. However, there was an increase in regional roles and corporate-based positions, such as regional operations managers. This was driven by companies focusing on improving processes and controlling costs by centralising the management of resources that were previously spread across multiple plants. Average salary increments for job movers were 20%, while those choosing to stay in their roles received an increase of around 7%. However, salaries remained flat in some cases where companies performance was sluggish. We expect similar trends in 2016 with more corporate-based new positions, while plant-level roles will mainly be replacement-based. SALES & MARKETING SHANGHAI FMCG The global economic climate resulted in some restructuring within FMCG multinationals in However, new companies continued to enter China and this trend will continue in New entrants will mainly be producers of imported products, such as food, beverages and consumer durables, to target a growing population who place more focus on the health and safety of the goods they consume. Digitalisation and e-commerce will remain a priority, driving the demand for e-commerce, communications and digital marketing specialists. With increasing market volatility, companies will also seek adaptable professionals experienced in dealing with changing markets and new strategies. Sales candidates with distribution experience will also be in demand as companies seek to grow their presence and sales in lowertier (medium-sized provincial) cities. As the demand for these sought-after professionals outstrips supply, job movers are likely to command 20-30% increases when moving in 2016, while non-movers will receive, on average, a 7% increment. SHANGHAI INDUSTRIAL Recruitment activity in the industrial sales sector started off slowly in quarter one, but was followed by surges across industries through quarters two and three. However, there was a noticeable slowdown in the automotive sector due to a decrease in car buying, which led tier one and tier two automotive suppliers to be more cautious about hiring. However, this drove an influx of stable and experienced automotive candidates to the market to look for new opportunities in other industries. In our view, the market will remain active in 2016 and companies will be looking for mid-level key account, business development and sales managers to help drive revenue. Job movers are likely to command 15-17% increases when moving in 2016, while non-movers will receive an average of 7-8% increments. SHANGHAI PROFESSIONAL SERVICES It was a promising year for the professional services industry, with more solutions-orientated companies entering China or moving their headquarters or core business to the country. A number of digital agencies and third-party

231 China payment solutions providers also entered China, seeing the potential in the market. This positive market atmosphere meant that job movers received salary increases of 20-30%. Similar trends are forecasted for More boutique firms and specialist service providers are expected to enter China and drive new hiring activity. There will be particularly high demand for bilingual professionals who are familiar with the market, understand client resources and have strong communication and leadership skills. Commercial acumen developed in advertising, media and online agencies will be a valuable quality as well. SHANGHAI RETAIL & LUXURY The retail and luxury market was stable, with slight growth in Luxury brands had a growing awareness of using customer insights to maintain relationships with VIPs, and also invested more in e-commerce and digital operations. We expect to see similar trends in Despite e-commerce s increasing popularity, good store managers will always be sought after, and visual merchandising specialists will remain in demand as brands maintain their presence and attract customers via physical outlets. We anticipate that job movers are likely to command 10-20% increases when moving in SUZHOU INDUSTRIAL In a slowing economic climate, companies looked to hire additional sales professionals to help find new opportunities, develop new markets and carry out strategic marketing. These professionals will again be particularly in demand during Under-performing staff were being replaced, which created more replacement roles. Salary increments varied in 2015 some candidates were prepared to accept a pay cut to switch to a company or industry with long-term growth potential, but, on average, job movers received 10-15% increases while non-movers received 5-8%. While similar trends are expected in 2016, pharmaceutical, medical services and energy-related industries are set to show more promising growth. BEIJING SALES In contrast to previous years, when companies looked to hire strong salespeople who could make individual contributions to growth, employers in 2015 focused on finding professionals with strong team management skills. This trend will continue in 2016 as companies seek to increase the productivity of their teams. Professionals with an IT&T background will also remain in demand. As the market was more conservative in 2015, salaries were quite flat and this is likely to continue in SUPPLY CHAIN & PROCUREMENT SUZHOU SUPPLY CHAIN & PROCUREMENT The jobs market slowed down in 2015, especially within the automotive industry, but there was active growth in the consumer electronics sector. There were also fewer global sourcing positions due to the rising costs in China. In 2016, companies will continue to focus on cost savings. In particular, the need to keep costs down in the early stages of the production process will drive recruitment for overall supply chain management, planning and supplier/vendor management professionals. More companies will look to hire those with relevant technical backgrounds for sourcing roles to improve supplier quality. Candidates with experience in matrix reporting lines will also be sought after, as professionals often need to communicate with multiple parties, such as clients, management, internal colleagues and factories. As in 2016, the average salary increments are likely to be 10-15% for job movers and 3-5% for employees staying in their roles. SHANGHAI SUPPLY CHAIN & QUALITY In 2015, organisations focused on process reengineering and cost optimisation to improve efficiency all round. This led to an increase of available regional roles and corporatebased positions to facilitate the centralising of resources. There was also an increase in purchasing positions as organisations sought to improve supplier and vendor management and keep costs down in the early stages of the production process. In 2016, companies will look to hire professionals with specialist technical backgrounds as they often have a deeper understanding of the products and can help improve supplier quality. Average salary increments for job movers were 20%, compared to 7% for those remaining in their roles in However, salaries stayed flat in some industries where performance was sluggish. In 2016, similar trends are expected with more hiring for corporate-based positions. Plant-level roles will mainly be replacement hires. China 230

232 BEIJING SALARIES ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM CNY ( ) Chief Financial Officer m m Finance Director 900k - 1.5m 700k - 1.0m Financial Controller 700k - 1.2m 600k - 1.0m Shared Services Manager 650k - 1.0m 600k - 1.0m FP&A Manager k k Treasury Manager k k Internal Audit Manager k k Tax Manager 500k - 1.2m 500k - 1.0m Finance Manager k k Accounting Manager k k Reporting Manager k k HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM CNY ( ) HR Director m m Head of Compensation & Benefits 800k - 1.3m 800k - 1.0m Head of Resourcing 800k - 1.0m 800k - 1.0m Head of Organisational Development 800k - 1.5m 800k - 1.5m HR Manager k k Learning & Development Manager k k Recruitment Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 231 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

233 BEIJING SALES ROLE PERMANENT SALARY PER ANNUM CNY ( ) IT Sales VP m m National Sales Director m m Regional Sales Manager 600k - 1.0m 550k - 1.0m Strategy Alliance Manager k k Business Development Manager k k Industrial Sales General Manager 800k - 2.0m 800k - 1.8m Country Manager m m Head of Sales 800k - 1.8m 800k - 1.8m National Sales Director 800k - 1.8m 800k - 1.8m Head of Retail m m Head of Product 800k - 1.2m 800k - 1.0m National Retail Operations Manager 600k - 1.2m 600k - 1.2m Regional Sales Manager k k Business Development Manager k k Training Manager k k Product Manager k k Store Manager k k Visual Merchandising Manager k k Area Manager k k Global Key Account Manager 600k - 1.0m 600k - 1.0m Project Sales Manager k k Key Account Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 China 232

234 SHANGHAI ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM CNY ( ) Chief Financial Officer m m Commercial Director 800k - 1.2m 900k - 1.3m Regional Finance Director 900k - 1.3m m Finance Director 800k - 1.3m 900k - 1.4m Financial Controller k k Internal Audit Manager k k FP&A Manager k k Tax Manager k k Treasury Manager k k Finance Manager k k Financial Analyst k k Internal Auditor k k HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM CNY ( ) HR Director m m Head of Compensation & Benefits m m Head of Organisational Development m m Head of Learning & Development 800k - 1.2m 900k - 1.3m Head of Talent Acquisition 800k - 1.2m 900k - 1.3m Compensation & Benefits Manager k k Talent Acquisition Manager k k Learning & Development Manager k k HR Business Partner k k HR Manager k k Office Manager k k Executive Assistant k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 233 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

235 SHANGHAI BANKING & FINANCIAL SERVICES FRONT, MIDDLE & BACK OFFICE ROLE PERMANENT SALARY PER ANNUM CNY ( ) Front Office Treasury Sales k 800k - 1.2m Product Manager k k Senior Relationship Manager 600k - 1.0m 600k - 1.2m Relationship Manager k k Trade & Cash Sales k k Middle Office Financial Controller k 600k - 1.0m Senior Credit Approver k 700k - 1.0m Credit Approver k k Audit Manager k k Compliance Manager k k AML Manager k k Back Office Head of Operational Risk 800k - 1.2m 800k - 1.2m Head of Operations 700k - 1.3m 700k - 1.3m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 China 234

236 SHANGHAI INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM CNY ( ) Management Regional IT Director m m Regional SAP Director m m Application Director 550k - 1.3m 500k - 1.3m PMO Commercial Systems Manager k k Project Management Officer k k Service Manager k k Application Manager k k ERP SAP Manager k k SAP Consultant k k Business Analyst k k Infrastructure Data Centre Manager k k Infrastructure Manager k k Development Software Architect 400k - 1.3m 400k - 1.3m Senior Software Developer k k UI Designer k k Internet Mobile Developer k k Data Statistics k k Product Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 235 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

237 SHANGHAI OPERATIONS & MANUFACTURING ROLE PERMANENT SALARY PER ANNUM CNY ( ) Plant GM 800k - 1.5m 800k - 1.5m Operations Director 800k - 1.2m 800k - 1.5m Quality Director 700k - 1.5m 700k - 1.2m Master Black Belt 700k - 1.6m 700k - 1.3m Operations Manager 600k - 1.0m k Quality Manager k k Supplier Quality Manager k k Production Manager k k Environmental Health & Safety Manager k k Project Manager k k Lean Manager k k Supplier Quality Engineer k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 China 236

238 SHANGHAI SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM CNY ( ) Cosmetics Brand General Manager m m National Sales Director 800k - 1.2m 800k - 1.3m National Sales Manager k k National Sales Operations Manager k k Regional Sales Manager k k Marketing Director 800k - 1.2m 900k - 1.2m Marketing Manager k k Digital Marketing Manager k k Group Product Manager k k Senior Product Manager k k Trade Marketing/Special Event Manager k k Public Relations Manager k k Training Manager k k Visual Merchandising Manager k k FMCG - Sales/E-commerce Sales General Manager m m National Sales Director m m National Key Account Director 800k - 1.4m 800k - 1.4m National Key Account Manager k k National Sales Operations Director k k National Sales Manager k k Regional Sales Manager k k E-commerce Director k 700k - 1.1m E-commerce Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 237 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

239 SHANGHAI SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM CNY ( ) FMCG - Marketing/Branding Marketing General Manager m m National Marketing Director 850k - 1.5m 850k - 1.5m National Marketing Manager k k Regional Marketing Manager k k National Trade Marketing Director 600k - 1.2m 600k - 1.2m National Trade Marketing Manager k k Regional Trade Marketing Manager k k Senior Product/Brand Manager k k Product/Brand Manager k k Industrial Sales General Manager m m Regional Sales Director 900k - 1.1m 900k - 1.2m National Sales Director 800k - 1.1m 800k - 1.1m Business Development Manager k k Regional Sales Manager k k Global Key Account Manager k k Channel Sales Manager k k Key Account Manager k k Sales Manager k k Project Sales Manager k k Account Manager k k Regional Marketing Director 900k - 1.1m m Marketing Director 850k - 1.1m 900k - 1.1m Marketing Manager k k Product Marketing Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 China 238

240 SHANGHAI SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM CNY ( ) Professional Services Executive Director m m Research Director - Agency k 800k - 1.0m Research Manager - Agency k k Engagement Manager - Consulting 850k - 1.0m m Strategic Planning Manager - Corporate k k PR Director 700k - 1.2m 600k - 1.2m PR Manager k k Business Development Director 800k - 1.0m 800k - 1.2m Business Development Manager k k Marketing Director 800k - 1.0m m Marketing Manager k k General Manager m m Account Director k k Account Manager k k Sales Director k 600k - 1.0m Sales Manager k k Retail & Luxury - Management Country Manager m m Head of Sales m m Regional Director 800k - 1.2m 800k - 1.2m Brand General Manager 800k - 1.5m 800k - 1.6m Head of Product m 800k - 1.5m Head of Marketing 800k - 2.0m 800k - 2.0m Head of Retail m 800k - 1.2m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 239 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

241 SHANGHAI SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM CNY ( ) Retail & Luxury - National/Regional National Sales Manager 600k - 1.0m 500k - 1.0m National Retail Operations Manager k k Merchandising Manager k k Store General Manager 400k - 1.0m k Area Manager k k Regional Sales Manager k k Training Manager k k Business Development Manager k k Digital Marketing Manager k k Area Sales Manager k k Marketing Communications Manager k k Visual Merchandising Manager k k PR Manager k k PR & Events Manager k k Product Manager k k Purchasing Manager k k Retail Marketing Manager k k Store Manager k k Department Manager k k Division Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 15 Robert Walters Global Salary Survey 2016 China 240

242 SHANGHAI SUPPLY CHAIN & QUALITY ROLE PERMANENT SALARY PER ANNUM CNY ( ) Supply Chain VP m m Procurement Director 800k - 1.5m 800k - 1.5m Supply Chain Director 800k - 2.0m 800k - 2.0m Supply Chain Manager k k APAC Sourcing Manager k k Plant Sourcing Manager k k Logistics Manager k k Commodity Manager k k Demand Planning Manager k k Warehouse Manager k k Supplier Development Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 241 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

243 SUZHOU SALARIES ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM CNY ( ) Chief Financial Officer 800k - 1.3m m Finance Director 600k - 1.0m 600k - 1.0m Financial Controller k k Internal Audit Manager k k Financial Analysis Manager k k Finance Manager k k Credit Control Manager k k Tax Manager k k Accounting Manager k k Costing Manager k k Treasury Manager k k ENGINEERING ROLE PERMANENT SALARY PER ANNUM CNY ( ) Technical Director 900k - 1.3m 900k - 1.3m R&D Director 800k - 1.6m 800k - 1.6m Engineering Director 600k - 1.3m 600k - 1.3m R&D Manager k k Engineering Manager k k Project Manager k k Maintenance Manager k k Automation Manager k k Design Engineer k k ME Engineer k k Application Engineer k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 17 Robert Walters Global Salary Survey 2016 China 242

244 SUZHOU SALARIES HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM CNY ( ) HR VP m m HR Director 700k - 1.1m 700k - 1.2m Organisational & Development Manager k k HR Manager k k Compensation & Benefits Manager k k Talent Acquisition Manager k k Training Manager k k HR Business Partner k k Administration Manager k k Executive Assistant k k INDUSTRIAL SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM CNY ( ) Sales General Manager m m Regional Sales Director 900k - 1.5m 900k - 1.5m Sales Director 700k - 1.2m 700k - 1.2m Marketing Director 700k - 1.0m 700k - 1.0m Global Key Account Manager k k Product Manager k k Marketing Manager k k Business Development Manager k k Regional Sales Manager k k Marketing Communications Manager k k Key Account Manager k k Customer Service Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 243 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

245 SUZHOU OPERATIONS & LEAN ROLE PERMANENT SALARY PER ANNUM CNY ( ) General Manager m m Regional Operations Director m m Plant Manager k k Manufacturing Manager k k Lean Manager k k Moulding Manager k k Paint Manager k k Value Stream Manager k k Production Manager k k Production Manager - Chemical k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 19 Robert Walters Global Salary Survey 2016 China 244

246 SUZHOU QUALITY & EHS ROLE PERMANENT SALARY PER ANNUM CNY ( ) Regional Quality Director 700k - 1.5m 700k - 1.5m Regional RA & QA Director 800k - 1.5m 800k - 1.5m Regional SQE Manager 600k - 1.0m 600k - 1.0m Regional EHS Manager 500k - 1.0m 500k - 1.0m SQE Manager k k EHS Manager k k Quality Manager k k Customer Quality Manager k k Quality Systems Manager k k Quality Control Manager k k Regulatory Affairs Manager k k Supplier Quality Engineer k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 245 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

247 SUZHOU SUPPLY CHAIN & PROCUREMENT ROLE PERMANENT SALARY PER ANNUM CNY ( ) Supply Chain VP m m Supply Chain Director 700k - 1.1m 700k - 1.1m Sourcing Director 700k - 1.1m 700k - 1.1m Supply Chain Manager k k Sourcing Manager k k Warehouse Manager k k Logistics Manager k k Planning Manager k k Procurement Manager k k Commodity Manager k k Sourcing Supervisor k k Customer Service Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 21 Robert Walters Global Salary Survey 2016 China 246

248 Hong Kong OVERALL, THE HONG KONG RECRUITMENT MARKET WAS POSITIVE IN Although the cautious economic outlook led some businesses to adopt a more careful approach to adding new headcount during the year, efforts from companies to up-skill their teams created a steady stream of replacement openings INSIGHT Hong Kong s export trading fell in 2015, due to the slowing Chinese economy and slower than expected recovery in Europe and the US. Although this affected recruitment activity in certain sectors, such as merchandising and retail, professionals with specialist skills remained highly sought after, particularly in the areas of accounting & finance and IT, as well as legal and compliance. Despite signs of softening in some markets, Asia remained an attractive place for investment with a vast amount of opportunity. Hong Kong s strategic location encouraged an increasing number of start-ups and growing companies to set up in the city, which fuelled the competition for top talent in the market EXPECTATIONS Due to uncertainties around China s economic slowdown, companies are likely to remain cautious in growing their headcount during However, organisations will continue to have ongoing demand for top talent as there is still a strong need to up-skill teams. Professionals with strong business acumen and communication skills as well as regional experience will be in greatest demand. We anticipate continued demand from the technology sector as a result of the growth in cloud technology, digital and big data. As these are relatively new areas, IT professionals with such skill sets and experience will be hard to find. The city s traditionally strong professional services sector will also continue to develop, creating strong competition for talent. Both compliance specialists and Mandarin-speaking investment professionals will be in particular demand. As companies seek to drive top-line growth, sales managers with a proven track record will also be highly sought after. However, such professionals are often presented with multiple job offers and are only likely to move when offered a significant increase in their remuneration package. Salary increments for candidates changing jobs will average 10-15% in 2016, but rises will be higher across in-demand areas, for example, compliance professionals specialising in areas such as anti-money-laundering and control room could receive increases of up to 30% when switching jobs. As the market remains candidate driven, companies should ensure a smooth and efficient recruitment process to avoid losing their preferred candidates to competitors. Hiring managers should also create a positive first impression during the interview by outlining the potential of the position on offer. To retain current employees, opportunities for career development, recognition of achievements and successes, as well as offering staff more autonomy and responsibility are the keys to improving retention rates. 247 Robert Walters Global Salary Survey 2016

249 As companies strive to up-skill their teams by hiring the best candidates, the competition for top talent will remain strong with professionals able to command average salary increases of 10-15% when switching jobs. + 5% (AJI) Year-on-year increase in the number of jobs advertised in Hong Kong + 21% (AJI) Year-on-year increase in advertised accounting and finance roles + 18% (AJI) Hong Kong KEY FINDINGS Increased financial services regulation continued to drive hiring across a range of areas meaning that risk, compliance and audit professionals will remain in high demand across the financial services, commerce and legal sectors as 2016 progresses. (AJI) Year-on-year increase in advertised information technology roles 70% (Whitepaper) Candidates who would turn down a job offer due to a poor interview experience TOP 4 SECTORS BY ADVERTISED JOB VOLUME China s economic slowdown has had a downstream effect and companies remain cautious about their 2016 headcount growth. Accounting & finance Legal & compliance 4 Information technology Sales & business development AJI: Robert Walters Asia Job Index, Q1-Q v 2015 Whitepaper: Robert Walters Research: Optimising the Interview Process 2015, 1,570 respondents Hong Kong 248

250 Hong Kong Hong Kong OVERVIEW ACCOUNTING & FINANCE During 2015 we observed consistent hiring activity at the mid to senior level across the full spectrum of finance responsibilities, including treasury, tax, internal audit, financial control, financial planning & analysis and mergers & acquisitions. Most of these were replacement hires following staff departures. As investment levels grew at local conglomerates and international companies in the logistics and property sectors, the demand for newly and part-qualified business analysts and credit control officers was particularly strong. Headcount restraints have been an issue in Hong Kong for some time, meaning that the contract market saw high levels of activity, with increasing numbers of senior and longer-term contract roles on offer. We expect this trend to continue in As companies continue to build the business partnering capacity of their finance functions, demand will increase for financial analysts and FP&A managers. Organisations will also seek to improve internal control procedures to find new ways of improving the bottom line and minimising risks associated with new regulatory and compliance requirements. As a result, internal auditors will also be increasingly sought after. This trend towards working more closely with the business is causing a growing number of finance professionals to move away from their core reporting and controlling responsibilities to provide analysis and decision-making support. We have seen a shortage of skilled financial accounting and controlling professionals developing as a result, which is likely to sharpen further in Treasury is another area where we anticipate an increase in demand following changes to the Inland Revenue Ordinance, which allows interest deductions and a rate cut in profits tax for corporate treasury centres established in Hong Kong. The average salary increase for newly and part-qualified professionals moving jobs will be around 15% in 2016, rising to 20% for top-quality job movers in the same year. Mid to senior candidates will achieve an average of 5%, although high performers could expect an average of 8%. Those in areas where there is a talent shortage could command increases of up to 15% when moving across the market. Contractors will expect increments of 10-15%. BANKING & FINANCIAL SERVICES FRONT OFFICE Despite volatile public equity markets, M&A deal volumes increased year-on-year in 2015, which resulted in a healthy level of hiring in M&A teams at investment banks. In contrast, debt capital markets (DCM) hiring substantially reduced from 2013 and 2014 levels, leading in some instances to job cuts. Valuations of Chinese stocks rose sharply in the first half of 2015, and trading volumes increased on the Hong Kong and Shanghai exchanges following the establishment of Shanghai-Hong Kong Stock Connect in late These events created significant demand in asset management firms for A-Share analysts during the first half of However, after the mid-year correction in China s stock market valuations, demand for such professionals evaporated. We expect that an uncertain economic outlook and regulatory pressure will cause investment banks to be cautious in their approach to hiring in Staff turnover, especially at junior and middle management levels, will remain a challenge for many banks. Larger banks have sought to address this in recent months by increasing base salaries and fast-tracking better performers to improve staff retention. We anticipate that more banks will follow suit during the year, reflecting new market norms. New entrants to the asset management market will continue to drive salaries upward in 2016 by paying above market rates for top talent, particularly for those in senior sales roles. We also expect that demand will remain high for Mandarin-speaking investment professionals specialising in both equity and fixed-income research roles. Experienced sales and distribution professionals will be in high demand and can expect to find many front office opportunities during the year. MIDDLE/BACK OFFICE The increase in global financial services regulation continued in 2015, resulting in a high demand for compliance and audit professionals. Banks have been heavily fined recently for KEY TRENDS The recruitment market will remain candidate-driven, with a strong focus from companies on talent attraction and retention. Professionals with strong communication skills and commercial acumen who can work as effective business partners will be highly sought after. Contract recruitment will remain strong and we anticipate greater numbers of senior and longer-term contract roles coming to market. We anticipate continued demand for compliance, digital and cloud computing specialists; strong sales managers who can help grow revenue and market share will also be sought after. 249 Robert Walters Global Salary Survey 2016

251 Hong Kong shortcomings in governance and due diligence, therefore competition was also intense for KYC (Know Your Customer) professionals. Due to the lack of candidates available on the market and the urgency of such hires, contractors were popular choices to fill client onboarding and compliance roles. As a number of banks continued to expand their traditional wholesale and lower-risk lines of business, including corporate and commercial lending, we saw increased recruitment activity in the areas of credit risk and analysis. Salary increases for those moving roles in KYC, compliance and audit averaged 20-25%, while credit risk and credit analysis professionals generally received 15-20%. Contractors, on the other hand, typically received increments of 20-40%, with some potentially receiving as much as 50%. Against a backdrop of an ever-tightening regulatory environment, compliance, risk, audit and client onboarding specialists will continue to be highly sought after in 2016, placing greater pressure on employment costs. HUMAN RESOURCES As increasing numbers of companies required their HR teams to work as business partners across the organisation, demand grew for professionals with strong commercial acumen and communication skills. This trend will continue in 2016, driving a need for hiring managers to seek professionals with Human Resource Business Partnering (HRBP) experience. Their role will be to work with the company s senior leaders to ensure that the HR strategy and agenda complement the organisation s overall aims. The focus on attracting and retaining talent placed compensation & benefits and talent management specialists among the most popular hires of They will continue to be highly sought after in 2016, helping to identify and grow high potential employees to develop a sustainable talent pipeline for the organisation. Candidates from specialist consulting firms will also be in particular demand during the year as they typically possess strong stakeholder and project management skills. As businesses experience more change in a potentially volatile market, we also anticipate further demand for change management and employee relations specialists in Among contractors, the most sought-after individuals in 2015 were in-house recruiters, HR information system experts and junior generalists all trends that we expect to continue in the year ahead. Overall, there will be a continuing shortage of HR talent during We expect competition among employers to drive salaries up, with movers in permanent and contract roles alike receiving average salary increases of around 15%. INFORMATION TECHNOLOGY Organisations in many sectors continued to expand their IT capabilities during 2015, contributing to a buoyant jobs market throughout the year. The professionals most in demand were those with proven experience in the cloud computing, IT security and mobile areas. Those with practical programming and coding skills were also highly sought after. As companies focused on improving workflows and cost savings, hiring managers also sought business analysts who could help automate processes through the use of IT systems. Among IT contractors, mid to senior-level project consultants with systems revamp and change management experience were in strong demand to ensure the constant availability of key systems. These trends are set to continue in 2016, when we will also see competition remain particularly strong for IT professionals in niche areas. Cloud computing is a prime example where available expertise is in limited supply. Cloud service providers looking to grow will also seek Hong Kong 250

252 Hong Kong Hong Kong OVERVIEW INFORMATION TECHNOLOGY (CONTINUED) experienced pre-sales and solution architects. In an associated trend, increasing public usage of cloud technologies, software and apps will continue driving demand for IT security experts to help improve the protection of data and privacy. As a result of continuing growth in mobile and application technologies, hiring managers will also actively seek developers and programmers at all levels, especially those with experience in Java and developing mobile apps. In addition to the demand for specialists, companies will also look for candidates with hybrid skills who can fulfil more than one role, for example by combining the skills of a business analyst with those of an application support professional. Similarly, professionals with knowledge spanning a number of IT security domains such as a combination of risk assessment and IT audit experience will also be sought after. We anticipate that job movers securing permanent roles in 2016 can expect salary increases of 12-15%, although those specialising in areas where talent is in short supply may achieve up to 20%. Contractors, meanwhile, will command 18-20% increases. LEGAL & COMPLIANCE The legal jobs market in Hong Kong remained candidate short in Mandarin-speaking lawyers with strong litigation, corporate and financial products experience and seasoned compliance professionals were in highest demand. We expect competition for these skills to intensify even further in Hong Kong s position as Asia-Pacific s hub for both contentious and corporate activity will continue to ensure that litigation and corporate lawyers will be sought after by both on and offshore law firms. Other areas of growth have been IP, private equity and investment funds formation. The Shanghai-Hong Kong Stock Connect and growing asset management sector in particular drove growth in For in-house legal positions, financial services firms will actively seek lawyers specialising in structured products (especially equities) and wealth management. In-house litigation teams will also continue to grow as regulations such as FATCA affect the market. Lawyers with experience setting up retail and institutional funds will also be in demand. The financial services sector remained an active recruiter of compliance specialists during 2015 but we saw the most headcount growth in buy side firms such as mutual and pension funds. Corporate compliance roles also increased in number during the year, in particular across the pharmaceutical and FMCG industries. As a result, compliance is once again set to be a particularly busy area for hiring activity in We expect most growth to be in asset management, private equity and the wealth management/private banking area as well as insurance. Hiring managers will also continue to seek professionals with experience in antimoney-laundering (AML) and financial crime, fraud, policy review, and specific product knowledge. We also expect to see increasing demand for corporate compliance specialists. In terms of salaries, US law firms will offer substantial pay rises to attract the best talent in 2016, whilst most international law firms will remain constrained by fixed salary bandings. Lawyers moving from law firms to take up in-house positions will face a 5-10% cut in salary, although this is usually covered by higher bonuses. Compliance will remain the most candidate-short market, and accordingly, professionals who specialise in areas such as AML and control room may be able to command increments as high as 30% when changing jobs. SALES & MARKETING Companies aiming to grow their market share and revenue were very active in seeking the best sales and marketing professionals during This created strong competition for talent, with top performers often receiving multiple offers. A primary focus for this growth was the digital arena, and practitioners with solid digital marketing, content management and social media experience were highly sought after. As the scale of digital communications and e-commerce continues to grow, companies will seek to strengthen their online presence in 2016, further increasing the levels of demand for digital marketing specialists. Another area in which we saw strong growth in 2015 was in media relations and corporate communications, where high-performing professionals were popular hires. Among contractors, companies were particularly interested in complementing their internal teams with project-focused junior marketing and communications personnel, while event specialists were sought after by financial services firms. We foresee similar trends in Hiring managers will be keen to find strong solutions sales managers with the ability to tailor products and services in response to customer needs. Sales professionals with proven ability to acquire new business and strategic business development skills will also be highly sought after. We also expect more businesses, especially start-ups and smaller-growing companies, to set up in Hong Kong during the year to come. This will lead to a more competitive recruitment market, and acceleration in the trend of jobseekers receiving multiple offers. To secure their preferred candidates, it is particularly important that companies move quickly and efficiently through the hiring process and take the opportunity to highlight the benefits of working with their firm. We expect that sales and marketing professionals who change jobs will receive salary increases of 10-15%, while marketing contractors can anticipate rises of 15-20%. SECRETARIAL & BUSINESS SUPPORT The still-growing influence of China on Hong Kong-based businesses meant proficiency in Mandarin was an even more important requirement for secretaries and administrators during This need will continue to grow 251 Robert Walters Global Salary Survey 2016

253 Hong Kong in 2016, as more companies set up offices in China and organisations from the mainland expand into Hong Kong. During 2015, most permanent secretarial vacancies were for replacement positions. We saw steady levels of hiring activity among financial and professional services firms, as well as local conglomerates, and international property and construction companies. Contractors had a high degree of choice between opportunities, and financial services firms were particularly seeking new staff. The most sought-after individuals were those who could move rapidly to take up short-term contracts, and executive assistants at all levels of experience. In 2016, companies will look to hire those who have the flexibility to carry out a range of support functions, from administrators with accounting and HR skills to receptionists who can cover some office administration and facilities management tasks. Financial and professional services firms will also need junior secretaries with strong Excel skills, including knowledge of pivot tables and v-lookup, to manage reporting and consolidation tasks. Support professionals moving between permanent jobs can expect to receive a minimum salary increase of 10% in 2016, and contractors will usually be looking for an increase of 15%. SUPPLY CHAIN & PROCUREMENT Recruitment in this area started slowly in Hong Kong during 2015, as large retailers put their expansion plans on hold. The economic slowdown in China also caused most companies to take a more cautious approach to adding to their headcount. However, a number of parallel trends began to stimulate more recruitment activity in the second quarter. In particular, third-party logistics providers hired actively as more companies outsourced their logistics and supply chain functions. Another key development saw a number of companies moving their sourcing functions to Hong Kong to help international businesses find Chinese-produced goods. This trend will continue in 2016, resulting in an increased need for sourcing professionals. We also saw an increased focus on responsible supply chain management in 2015, which led to higher demand for experienced professionals in this area, particularly at middle management levels. Organisations will maintain this focus on responsible sourcing throughout 2016, which will place corporate social responsibility professionals with compliance and factory audit experience in high demand. Third-party logistics providers will continue to hire actively as outsourcing continues. Senior candidates will be particularly sought after to manage the set-up of new teams to cope with business expansion. Overall, we expect that the 10-15% salary increments achieved by supply chain and procurement professionals in 2015 will continue to be the norm in Hong Kong 252

254 HONG KONG ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM HKD ($) Part & Newly-qualified Internal Auditor k k Financial Analyst k k Junior Business Analyst k k AR/AP Supervisor k k Management Accountant k k Senior Accountant k k Financial Accountant k k Assistant Accountant k k Billing Specialist k k Accounts Clerk k k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 253 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

255 HONG KONG ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM HKD ($) SALARY PER MONTH HKD ($) Chief Financial Officer 2.2m+ 2.2m+ Finance Director - Regional m m k k Finance Director - Country m m 80-90k 80-90k Financial Controller - Regional m m 60-95k 70-95k Financial Controller - Country 840k - 1.2m 850k - 1.3m 60-80k 60-80k Tax Director m m Tax Manager 700k - 1.1m 700k - 1.2m 50-68k 50-70k Audit Director m m Audit Manager k 650k - 1.0m 40-48k 40-50k Corporate Auditor k k Treasury Director m m Treasury Manager 600k - 1.0m 600k - 1.1m 45-60k 45-65k Corporate Finance Director m m Corporate Finance Manager 900k m 900k - 1.5m 40-60k 45-65k Corporate Finance Analyst k k 35-45k 35-50k FP&A Director - Regional m m FP&A Manager 680k m 700k - 1.1m 45-60k 45-60k Senior Finance Manager 840k - 1.1m 850k - 1.1m 48-68k 50-70k Finance Manager k k 45-65k 45-65k Accounting Manager k k 40-50k 40-50k Senior Accountant k k 30-48k 30-50k Credit Control Manager k k 45-55k 45-55k Senior Financial Analyst k k 35-50k 35-55k Financial Analyst k k 30-45k 30-45k Business Analyst k k 35-45k 30-50k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Hong Kong 254

256 HONG KONG BANKING & FINANCIAL SERVICES FRONT OFFICE ROLE PERMANENT SALARY PER ANNUM HKD ($) Investment Banking 1-3 YRS' EXP 3-6 YRS' EXP 6-10 YRS' EXP M&A 700k - 1.0m 780k - 1.1m m m m m+ Debt Capital Markets 700k - 1.0m k m 960k - 1.4m m m+ Equity Capital Markets 600k - 1.0m 600k - 1.0m m m m m+ Asset Management Credit Research k k 720k - 1.1m 780k m m m+ Equity Research k k k 720k - 1.1m 960k - 1.7m m Institutional Sales k k 700k - 1.2m 660k m m m Wholesale Distribution k k 650k - 1.1m k 900k - 1.4m 900k - 1.4m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 255 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

257 HONG KONG BANKING & FINANCIAL SERVICES MIDDLE & BACK OFFICE ROLE PERMANENT SALARY PER ANNUM HKD ($) Risk Management 1-4 YRS' EXP 5-8 YRS' EXP 8+ YRS' EXP Counterparty Risk k k k k 800k - 1.5m 840k - 1.5m Credit Risk k k k k 700k - 1.5m 720k - 1.5m Market Risk k k k k 900k - 1.5m+ 960k - 1.5m+ Operational Risk k k k k 840k - 1.4m 720k - 1.4m Finance & Accounting Change Management k k k k 850k - 1.4m 850k - 1.5m Financial & Regulatory Reporting k k k k 930k m 900k - 1.7m Fund Accounting & Admin k k k k 840k - 1.3m 864k - 1.4m Management Reporting k k k k 900k m 900k - 1.5m Product Control & Valuation k k k k 900k m 900k - 1.5m Tax Planning & Advisory k k 480k - 1.1m 480k - 1.1m m m Treasury k k k k 720k - 1.2m 840k - 1.3m Internal Audit Fund & Wealth Management k k k k 900k - 1.6m+ 900k - 1.7m+ IBD & Markets k k k k 900k m 990k - 1.8m Insurance k k k k 900k - 1.6m+ 900k - 1.6m+ Information Technology k k k k 930k - 1.5m+ 950k - 1.6m+ Retail & Commercial Banking k k k k 800k m 800k m Business Operations Change Management k k k k m m Client Servicing & Corporate Actions k k k k 900k - 1.5m 900k - 1.5m Collateral Management k k k k 950k - 1.5m 950k - 1.5m KYC/Client Onboarding k k k k 960k - 1.5m 960k - 1.5m Trade Support & Settlement k k k k 950k - 1.5m 950k - 1.5m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Hong Kong 256

258 HONG KONG BANKING & FINANCIAL SERVICES MIDDLE & BACK OFFICE ROLE CONTRACT SALARY PER MONTH HKD ($) Finance 1-4 YRS' EXP 5-8 YRS' EXP 8+ YRS' EXP Financial & Regulatory Reporting 30-40k 30-45k 45-60k 45-70k k k Fund Accounting & Admin 20-30k 25-35k 30-40k 35-45k 45-65k 45-70k Management Reporting 30-45k 30-45k 45-60k 45-65k k 65-95k Product Control & Valuation 22-30k 30-50k 50-75k 50-75k k k Treasury 18-35k 18-35k 35-60k 35-60k 60-90k 60-90k Governance Compliance - AML/Surveillance 30-45k 30-50k k k k k Compliance - Control Room 40-80k 40-80k k k k k Compliance - Investment 40-70k 45-75k k k k k Management 40-70k 45-75k k k k k Business Operations Change Management 35-65k 35-70k k k k k Client Servicing 20-38k 20-40k 40-55k 40-60k 55-85k 60-90k Collateral Management 20-40k 20-40k 35-50k 35-50k 50-75k 50-75k Confirmation 18-32k 18-35k 35-45k 35-45k 45-65k 45-65k Corporate Actions 20-40k 20-40k 40-50k 40-50k 50-70k 50-70k Data Management 20-40k 20-40k 35-65k 35-65k 65-85k 65-85k KYC/Client Onboarding 25-45k 25-45k 45-75k 40-80k k k Settlements 18-35k 18-35k 40-50k 35-50k 50-60k 50-70k Trade Support 20-40k 25-45k 40-50k 45-60k 50-75k 60-80k Operations & Projects Business Analyst 20-45k 20-50k 60-90k 50-90k k k Risk Management Operational Risk 20-40k 20-45k 45-70k 45-70k 70-90k 70-90k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 257 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

259 HONG KONG HUMAN RESOURCES ROLE PERMANENT CONTRACT SALARY PER ANNUM HKD ($) SALARY PER MONTH HKD ($) Commerce & Industry HR Director m m k k Head of Compensation & Benefits m m k k HR Manager k k 35-55k 35-50k Organisational Development Manager k 600k - 1.0m 40-65k 45-70k Payroll Manager 600k - 1.0m k 40-80k 40-75k Recruitment Manager k k 55-78k 55-80k Shared Services Manager k k 45-73k 45-75k Training & Development Manager k k 45-58k 45-60k HR Generalist k k 28-45k 30-45k Recruitment Specialist k k 35-55k 35-60k Payroll Specialist k k 30-48k 30-50k HRIS Analyst k k 18-28k 18-30k C&B Officer/Specialist k k 15-23k 15-25k Financial Services HR Director m m k k Head of Compensation & Benefits m m k k HR Manager k 660k - 1.0m 45-80k 45-85k HRIS Manager 660k - 1.0m 660k - 1.0m 55-85k 55-85k Organisational Development Manager 700k m 700k - 1.3m 45-80k 45-85k Shared Services Manager k 600k - 1.0m 50-75k 50-80k Training & Development Manager k 600k - 1.0m 65-75k 65-80k HR Generalist k k 30-52k 30-55k Payroll Specialist k k 38-50k 40-50k Recruitment Specialist k k 30-55k 30-60k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Hong Kong 258

260 HONG KONG INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM HKD ($) 3-7 YRS' EXP 8-14 YRS' EXP 15+ YRS' EXP Management Chief Information Officer m m IT Director m m Program Director 950k - 1.4m m IT Manager 800k - 1.1m 850k - 1.2m Infrastructure Data Centre k k 715k m 715k m 930k - 1.4m 930k - 1.4m DBA - Oracle/SQL/Sybase k k k k k k Help Desk k k k k 950k - 1.1m 950k - 1.1m Incident Management k k k k 870k m 880k - 1.1m Infrastructure Services k k 820k - 1.2m 820k - 1.3m m m Network Administration k k k k k k Network Support k k k k k k Security Specialist k k 720k m 750k - 1.2m 920k - 1.3m 920k - 1.4m Service Delivery k k k 720k - 1.0m 950k m 950k m Cloud Technology k k 820k - 1.4m 850k - 1.5m m m Technical Consultant k k 780k - 1.1m 800k m 960k m 980k - 1.3m Projects Business Analyst k k k k k k Implementation Consultant k k k k k k Project Manager k k k 820k - 1.0m 940k - 1.5m 940k - 1.5m Software Business Intelligence k k k k k k Software Engineer k k k k k k Support k k k k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 259 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

261 HONG KONG INFORMATION TECHNOLOGY ROLE CONTRACT SALARY PER MONTH HKD ($) 3-7 YRS' EXP 8-14 YRS' EXP 15+ YRS' EXP Infrastructure Data Centre Manager 38-48k 40-50k 55-65k 58-68k k k DBA - Oracle/SQL/Sybase 45-55k 55-65k 55-65k 65-75k 75-85k 80-90k Help Desk 25-45k 28-48k 38-58k 40-58k 65-70k 65-70k Incident Management SME 40-55k 45-55k 55-65k 65-70k k k Infrastructure Services Specialist 38-48k 38-48k 45-55k 45-55k k k Mobile Network Engineer 45-55k 45-55k 65-68k 65-68k k k Network Support Engineer 30-60k 35-65k 65-75k 65-75k 75-80k 75-85k SA - Windows Engineer 35-55k 35-55k 55-65k 55-65k 65-80k 65-80k SA - Unix Engineer 35-55k 35-55k 55-60k 55-70k k k Security Specialist 45-60k 55-65k 60-70k 65-75k k k Service Delivery Manager 40-50k 45-55k 58-68k 60-70k k k Solution Architect 55-65k 60-68k 65-75k 70-78k k k Technical Consultant 45-55k 48-58k 58-68k 58-68k k k Projects Business Analyst 35-45k 48-58k 48-58k 48-58k 60-80k 60-80k Change Management Consultant 35-48k 40-50k 45-65k 50-75k k k Project Manager 45-57k 48-60k 60-80k 65-85k k k PMO/Programme Manager 42-50k 42-55k 50-70k 50-75k 75-95k k Software Business Intelligence Analyst 35-45k 40-45k 40-55k 40-60k 65-80k 65-80k Quality Assurance Analyst 40-45k 45-50k 45-55k 55-70k 55-85k 55-85k Software Developer 27-40k 28-40k 50-80k 50-80k k k Application Support 45-50k 45-55k 50-70k 50-70k 60-80k 60-80k Mobile Developer 45-55k 45-55k 55-70k 55-70k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 Hong Kong 260

262 HONG KONG LEGAL LEGAL & COMPLIANCE ROLE PERMANENT SALARY PER ANNUM HKD ($) 1-3 YRS' EXP 4-7 YRS' EXP 8+ YRS' EXP Legal In-house Commerce & Industry 500k - 1.1m 500k m 900k - 1.5m 900k - 1.5m m m+ In-house Financial Services 650k m 650k - 1.2m m m m m+ ISDA Negotiator k k 700k - 1.2m 700k - 1.2m m m Private Practice - US Firms m m m m m m+ Private Practice - International 850k m 850k - 1.4m m m m m+ Paralegal k k k k k k Compliance Anti-Money-Laundering k k k 550k - 1.0m m m+ Front Office k k 550k m 580k - 1.1m m m+ General Compliance k k k 550k - 1.0m m m+ Insurance/Security Firms k k k k 900k - 1.6m m+ COMPANY SECRETARIAL ROLE PERMANENT SALARY PER ANNUM HKD ($) Group Company Secretary 1.3m+ 1.4m+ Company Secretary 840k+ 840k+ Deputy Company Secretary k 600k - 1.0m Assistant Company Secretary k k Company Secretarial Assistant k k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 261 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

263 HONG KONG SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM HKD ($) Financial Services Head of Corporate Communications m m Head of Corporate Access m m Head of Events m m Head of Internal Communications m m Head of Marketing m m Media Relations Director m m Corporate Communications Manager k 600k - 1.0m CSR Manager k k Digital Marketing Manager k 600k - 1.0m Events Manager k k Internal Communications Manager k k Marketing Communications Manager k k Marketing Manager k 500k - 1.0m Media Relations Manager 600k - 1.1m 600k - 1.2m Product Development Manager 800k - 1.3m 800k - 1.3m Events Executive k k Media Relations Executive k k FMCG General Manager m m Marketing Director 900k - 1.5m 900k - 1.6m Sales Director 900k - 1.5m 900k - 1.7m Key Account Manager 500k - 1.0m 500k - 1.0m Brand Manager k 600k - 1.0m Marketing Manager k 600k - 1.0m Product Manager k 600k - 1.0m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 15 Robert Walters Global Salary Survey 2016 Hong Kong 262

264 HONG KONG SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM HKD ($) IT&T General Manager m m Account Director m m Carrier Sales Director m m Marketing Director 900k - 1.2m 900k - 1.3m Sales Director m m Account Manager k k Alliances Manager 750k - 1.0m 750k - 1.1m Business Development Manager 700k - 1.2m 700k - 1.2m Channel Manager k 700k - 1.0m Digital Marketing Manager k 600k - 1.0m Marketing Manager k k Sales Manager 700k - 1.1m 700k - 1.2m Retail General Manager m m Brand Director m m Marketing Director m m Retail Operations Director m m Area Sales Manager k 600k - 1.0m Brand Manager k 550k - 1.0m Marketing Manager k k Visual Merchandising Manager k k PR Manager k k Senior Buyer k k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 263 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

265 HONG KONG SALES & MARKETING ROLE CONTRACT SALARY PER MONTH HKD ($) Financial Services Corporate Communications Manager 50-80k 50-80k Events Manager 45-65k 45-65k Internal Communications Manager 48-65k 48-70k Marketing Manager 40-60k 45-58k Events Executive 20-40k 25-38k Internal Communications Executive 28-35k 30-38k Marketing Executive 25-35k 25-35k Roadshow Executive 20-35k 25-36k FMCG Brand Manager 40-60k 40-60k Marketing Manager 35-40k 35-45k IT&T Marketing Manager 35-50k 35-55k Marketing Executive 28-35k 28-40k Retail Brand Manager 40-55k 40-58k Marketing Manager 35-40k 35-45k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 17 Robert Walters Global Salary Survey 2016 Hong Kong 264

266 HONG KONG SECRETARIAL & BUSINESS SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM HKD ($) SALARY PER MONTH HKD ($) Commerce & Industry Administration Manager k k 30-45k 35-45k Assistant Administrative Manager k k Administrator k k 20-28k 20-30k Administrative Assistant k k 13-20k 13-22k Office Manager k k 35-60k 35-60k Personal Assistant k k 25-50k 27-50k Legal Secretary k k 25-45k 33-40k Executive Secretary k k 25-40k 25-45k Team Secretary k k 22-32k 25-35k Receptionist k k 13-17k 15-23k Financial Services Administration Manager k k 35-55k 35-55k Assistant Administrative Manager k k Administrator k k 25-35k 25-35k Administrative Assistant k k 14-23k 15-25k Office Manager k k 48-70k 45-65k Personal Assistant k k 35-65k 35-65k Legal Secretary k k 30-45k 32-45k Executive Secretary/Executive Assistant k k 28-45k 30-45k Team Secretary k k 30-38k 30-40k Receptionist k k 13-20k 16-23k Customer Service Business Development Executive k k Customer Service Officer k k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 265 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

267 HONG KONG SUPPLY CHAIN & PROCUREMENT ROLE PERMANENT SALARY PER ANNUM HKD ($) Corporate Services Head of Procurement m m+ VP Sourcing/Procurement IT/Non-IT 900k - 1.2m 900k - 1.3m Logistics/Supply Chain Head of Logistics m m+ Head of Procurement m m+ Head of Supply Chain m m+ Logistics/Warehouse Manager k k Procurement Manager k k Supply Chain Manager k k Demand/Supply Planner k k Sourcing/Merchandising General Manager/EVP m m+ Sourcing Director/VP m m+ General Merchandising Manager m m QA/QC Manager k k Social Compliance Manager k k Senior Merchandiser k k Product Developer k k Third Party Logistics Sales Director m m+ Operations/Logistics Director m m Operations/Logistics Manager k k Regional Key Account Manager 650k - 1.1m 650k - 1.1m Sales Manager k k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 19 Robert Walters Global Salary Survey 2016 Hong Kong 266

268 Indonesia 2015 WAS A MIXED YEAR FOR THE INDONESIAN RECRUITMENT MARKET. A slowdown in growth, political challenges, a continuing failure to address critical infrastructure issues and a declining rupiah suggested limited opportunities for specialist professionals. However, the severity of the continued skills shortage meant that demand for international standard, white collar professionals continued to outstrip supply. This is a situation we expect to exist for several years to come INSIGHT While general unemployment has increased (driven by lay-offs amongst unskilled workers) the skilled market continued to suffer shortages of professionals across all areas outside the commodities and oil and gas sectors. In 2015, this limited talent pool has been narrowed further by the rapid emergence of e-commerce and related industries. As a result, annual pay rises tended to be between 7-12%, with various incentives such as bonuses and non-financial benefits also offered to retain professionals. Pay rises continue to be the priority for those moving jobs in Indonesia, with overall remuneration increases of 20-40% as standard 267 Robert Walters Global Salary Survey 2016 and over 50% not uncommon for niche positions. Candidate expectations remained very high (and often unrealistic) throughout the year, leading to protracted and occasionally futile salary negotiations EXPECTATIONS In summary, we anticipate 2016 will follow similar trends to those seen in In particular, skilled professionals will continue to be in high demand as organisations seek productivity gains; all businesses will focus on recruiting a talented workforce to make the most of efficient processes and technology. Demand from emerging industries will continue to place pressure on more established multinationals in both attraction and retention of staff particular sector hot spots will include the e-commerce and digital, modern technology, medical/healthcare, insurance and pharmaceutical industries. Indonesians with business partnering/ commercial skill sets, multilingual ability (English in particular) and international experience, will be highly sought after. Key requirements will be IT across the board, digital (both marketing and IT), technical financial, compliance and sales, as the market continues to mature and develop towards international standards. The demand for Indonesian nationals, currently working or studying abroad, will be particularly acute. However, employers may need to readjust their salary expectations to align with those of returning candidates. These professionals will command a premium in the market, often 20-50% above domestic experience. Businesses looking to attract the best Indonesian professionals will continually need to reconsider their salary packages. SECTOR TRENDS Recruitment levels varied markedly between sectors in In areas such as commodities, oil and gas and other raw materials it was a very tough year, driven by a drop in global pricing. This had a detrimental knock-on effect on companies serving these industries, and caused many expatriate professionals to leave Indonesia. In a similar macroeconomic shift, many companies that import parts, vehicles, complex machinery or products from overseas suffered financially as the rupiah weakened against the dollar. By contrast, sectors involving technology, e-commerce and social media saw exponential growth driving very fast expansion. This placed a high level of demand on professionals with relevant skills and experience.

269 Demand from emerging industries will continue to place pressure on more established multinationals in both attraction and retention of staff. Particular sector hot spots will include e-commerce and digital, modern technology, technical healthcare, insurance and pharmaceuticals. Demand for returning Indonesian nationals currently working or studying abroad will be acute Employers willing to offer 15% or higher salaries to returning Indonesians Overseas Indonesians who believe their skills are in demand by local employers Indonesia KEY FINDINGS Annual pay rises tended to be between 7-12% for those staying in current roles. 53% Robert Walters Returning Asians Survey % For those changing roles, overall remuneration increases of 20-40% will be standard, with 50% increases for niche positions not uncommon % (Salary Survey 2016) Salary increase expected for Indonesians moving roles in % (Salary Survey 2016) Salary premium expected for overseas-based Indonesians coming home in 2016 Indonesia 268

270 Indonesia Indonesia OVERVIEW ACCOUNTING & FINANCE In early 2015, demand was particularly strong for commercial finance and financial planning & analysis (FP&A) professionals. A number of large organisations also sought finance directors and commercial managers to fill leadership positions in established finance teams. This trend was particularly noticeable in publicly listed firms, where the key focus was on implementing accurate methods of projecting future cash flows. However, hiring managers found it difficult to attract these professionals as there were very few candidates available. General market growth and new market entrants, particularly in e-commerce, also created heightened demand for finance professionals. Companies in all sectors were looking for finance managers with bilingual skills to enable better communication with their regional counterparts. Accounting and finance professionals who had wider experience in business partnering were also sought after. However, there was a limited supply of such candidates as these roles are only available at a few large corporations and people rarely wanted to move roles. Until the accounting and finance industry matures in Indonesia, we expect to see a continuation of talent shortages. As a result, professionals moving roles will demand 20-40% pay increases in 2016 and beyond. BANKING & FINANCIAL SERVICES As Indonesia s financial services market is still relatively immature, hiring managers faced talent shortages across all roles. Despite the slowdown in growth within corporate banking there were high levels of activity in all areas, and credit analysts were particularly sought after to evaluate new clients. Professionals who could develop new business and secure potential prospects were also sought after as financial services companies continued to drive banking and insurance products to market. Conditions are likely to improve in 2016 as government investment, foreign investment and corporate activity will continue to increase in all areas outside oil and gas. The economic conditions (in particular the rupiah s decline and commodity prices) did produce some financial casualties however, and accordingly professionals with experience in credit restructuring and loan workouts were in high demand. Growth continued in insurance, general funds and retail banking, which presented opportunities for senior-level professionals such as heads of distribution. Bilingual communication skills, core financial services experience and stakeholder management ability were highly sought after in 2015 and this will continue to be the case in With the government s plan to provide greater regulatory freedom, tax incentives and less bureaucracy, the outlook for financial services in 2016 is positive. As a result, those professionals with in-demand skill sets and experience will find the rewards are significant; job movers in 2016 can still expect salary increments up to as much as 60%. HUMAN RESOURCES HR continued to play an increasingly important part in companies strategy during The ongoing corporatisation of businesses, difficulties in hiring and retaining staff and building of more sophisticated HR frameworks, all led to the best HR talent being highly sought after. Demand for HR professionals was further increased by the rapid emergence of new organisations (such as e-commerce and modern mobile technology) with fast-growing workforces competing in the same talent pool. As a result, many organisations were prepared to offer at least 25% increases in salary, some even up to 50%, in order to tempt professionals into new roles with increasingly varied and attractive benefits packages. Across all sectors outside commodities, individuals with various HR skills were in demand. As more companies focused on developing innovative strategies to improve employee acquisition and retention, both talent acquisition and compensation & benefit KEY TRENDS The government s requirement for companies to bring IT infrastructure (such as data centres) onshore will create more demand for project and program managers, and subsequently IT operations and support roles. As social media becomes a country-wide phenomenon and with an explosion in growth of digital platforms, particularly online retail and mobile, there will be more opportunities for digitally focused professionals. HR professionals with experience in training and development were also in demand as organisations channelled their efforts into expanding and improving the productivity of their businesses. In growing sectors such as e-commerce, pharmaceuticals, telecommunications, life sciences and banking there were numerous legal opportunities, in particular for qualified lawyers with English language skills. The demand for returning Indonesian nationals currently working or studying abroad, will be particularly acute. 269 Robert Walters Global Salary Survey 2016

271 Indonesia professionals had many roles to consider in Experience in training and development was also in demand as organisations channelled their efforts into expanding and improving the productivity of their businesses. At the senior management level, HR directors with strategic planning experience were valued by organisations for their ability to assist senior leadership in executing their projects. In addition to multinational companies, Indonesian companies also had plans to strengthen their corporate structure and attempted to modernise their internal processes. This led to an increased demand for HR business partners with both generalist and specialist backgrounds who could assist with HR project and change management programs. Overall, employers found it hardest to recruit strategic HR, industrial relations and, perhaps surprisingly, HR generalists. This was primarily due to a lack of international experience and exposure in the existing talent pool, as well as candidates preferring to specialise in certain niche areas. We anticipate all of these trends to continue into INFORMATION TECHNOLOGY The IT recruitment market was one of the most active and competitive in Indonesia in 2015, with candidates demanding at least 30% salary increments to move roles. One key trend saw global firms outsourcing software development and offshore infrastructure support to Indonesia, creating many job opportunities for engineers. The low take-up of cloud technology will mean ongoing demand in 2016 for in-house IT managers, data centre managers and infrastructure managers. There was consistent demand for bilingual professionals, particularly those with international or regional experience in multinational companies. Global firms arriving in Indonesia for the first time had relatively new IT teams, and wanted a combination of technical know-how, fluency in English and strategic thinking skills. Strong leadership experience and management skills were also required to develop internal IT teams. In addition, business analysts and software engineers skilled in updating technology were needed throughout the year. Looking ahead, the government s requirement for companies to bring IT infrastructure (such as data centres) onshore will create more demand for project and program managers, and subsequently IT operations and support roles, predominantly in banking and finance. The rapid growth in e-commerce will also fuel demand for developers through to CTOs across the mobile and web spaces. LEGAL The Indonesian Government has improved regulation and reduced bureaucracy in many areas as part of an overall effort to attract investment. As a result, the demand for private practice and in-house legal professionals remained steady in Employers will continue to require lawyers in roles that relate to compliance, risk and regulation throughout International law firms in Indonesia maintained their demand for M&A, capital markets and project finance specialists as financial activity intensified. In growing sectors such as e-commerce, pharmaceuticals, telecommunications, life sciences and banking, there were numerous opportunities. Qualified inhouse legal professionals with English language skills were the most sought-after candidates across these sectors. Companies were also increasingly receptive to mid to senior-level candidates wanting to leave law firms and fill in-house roles, although prior industry experience is still preferred. Those who switched jobs in 2015 saw significant salary increments of 30-50%, and this will remain the case in SALES & MARKETING The largest number of sales and marketing job opportunities came from new businesses developing in Indonesia, fuelled by its reputation as one of the prime emerging markets in Southeast Asia. The country is also experiencing an explosion in the growth of digital platforms, particularly in online retail and mobile, which is connecting the people of Indonesia to the world in unprecedented ways as social media becomes a country-wide phenomenon. Consequently, there was demand for brand and marketing managers at the mid to senior level with knowledge of digital and mobile platforms. Sales and marketing directors with excellent leadership skills and strong business acumen were also needed to lead large teams. Multinational companies actively sought people to manage key sales accounts in As many of these roles required strong communication skills and fluency in English, employers looked to Indonesians overseas to fill these needs. However this presented a problem as most companies would only offer packages that were in line with Indonesia s comparatively low rates of pay and fewer benefits. Encouraging talent away from better-compensated roles abroad was a key challenge and will remain so in Those people who did successfully move jobs were able to command salary increments of 20-40%, well above the standard 7-10% for those remaining in their roles. This is likely to continue in 2016, as there is a shortage of good salespeople across the board. Hiring managers are having difficulty recruiting candidates with specialist skills, as a majority only have generic sales and marketing backgrounds. With this in mind, hiring managers should look beyond their current sector and focus on candidates abilities and potential rather than specific technical requirements or experience. Indonesia 270

272 JAKARTA ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM IDR (RP) Accounting & Taxation Head of Tax m m Group Accountant m m Senior Tax Accountant m m Accountant m m Tax Accountant m m Analyst Senior Financial Analyst m m Financial Analyst m m Audit Internal Audit Director m m Internal Audit Manager m m Senior Auditor m m Auditor m m Finance Chief Financial Officer m m Finance Director m m Financial Controller m m Commercial Finance Manager m m Senior Finance Manager m m Finance Manager m m Treasury Treasury Manager m m Treasury Analyst m m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 271 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

273 JAKARTA BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM IDR (RP) ANALYST AVP VP Banking Operations Cash Management m m m m 700m+ 720m+ Credit m m m m 560m+ 620m+ Trade Operations m m m m 560m+ 620m+ Treasury Operations m m m m 560m+ 620m+ Corporate Governance Compliance/Legal m m m m 700m+ 770m+ Credit Risk m m m m 650m+ 770m+ Internal Audit m m m m 650m+ 770m+ Market Risk m m m m 700m+ 720m+ Operational Risk m m m m 650m+ 770m+ Finance/Accounting Financial Control m m m m 700m+ 720m+ Strategic Planning & Analysis m m m m 700m+ 720m+ MIS Reporting m m m m 520m+ 580m+ Front Office Banking Investment Banking m m m m 1200m+ 1300m+ Corporate Banking m m m m 800m+ 815m+ Equity Sales m m m m 780m+ 860m+ Trade Sales m m m m 700m+ 720m+ Treasury Sales m m m m 750m+ 840m+ Project Management Business Analyst m m m m 520m+ 580m+ Project Management m m m m 520m+ 580m+ NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Indonesia 272

274 JAKARTA HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM IDR (RP) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Banking & Financial Services HR Business Partner m m m m 630m+ 975m+ Compensation & Benefits m m m m 630m+ 780m+ Training & Development m m m m 630m+ 780m+ Organisational Development m m m m 578m+ 780m+ HRIS m m m m 630m+ 715m+ Commerce & Industry HR Business Partner m m m m 775m+ 850m+ HR Generalist m m m m 725m+ 800m+ Compensation & Benefits m m m m 578m+ 715m+ Organisational Development m m m m 630m+ 715m+ Training & Development m m m m 578m+ 715m+ NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 273 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

275 JAKARTA INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM IDR (RP) CTO/CIO m m IT Sales m m Program Manager m m IT Manager m m Project Manager m m Pre-sales/Architect m m Infrastructure Manager m m Business Intelligence Consultant m m E-commerce Manager m m Software Developer m m Business Analyst m m Systems Engineer m m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Indonesia 274

276 JAKARTA LEGAL ROLE PERMANENT SALARY PER ANNUM IDR (RP) In-house Counsel Legal Director m m Head of Legal m m Legal Counsel m m Compliance Officer m m Legal Manager m m Litigation Specialist m m Senior Lawyer m m Private Practice Senior Associate m m Associate m m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 275 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

277 JAKARTA SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM IDR (RP) Business Development Sales & Marketing Director m m+ Sales Director m m+ Account Director m m+ National Sales Manager m m+ Senior Business Development Manager m m+ Business Development Manager m m+ Key Account Manager m m+ Sales & Marketing Manager m m+ Regional Sales Manager m m+ Marketing Marketing Director m m+ Marketing Manager m m+ Trade Marketing Manager m m+ Marketing Communications Manager m m+ Channel Marketing Manager m m+ Senior Brand Manager m m+ Marketing Research Manager m m+ Visual Merchandising Manager m m+ PR Manager m m+ Brand Manager m m+ NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Indonesia 276

278 Japan Osaka Tokyo 2015 INSIGHT The Japanese jobs market was extremely active in 2015, with steadily improving opinions about the country s economic outlook creating a more optimistic mood among Japanese and foreign multinationals. Major companies added to their headcount during the year and Japanese professionals, previously cautious about moving jobs, were actively seeking new roles EXPECTATIONS We anticipate high levels of hiring activity will continue throughout 2016, especially among employers seeking bilingual professionals. With Japanese fluency being a requirement for most jobs, opportunities are limited for expat talent. Combined with the demographic forces of a declining population and a less careerfocused younger generation of jobseekers, we anticipate a widening gap between the growing numbers of vacancies and available local talent in Skilled salespeople at every level of the consumer and retail sectors, especially at the senior end of the market, will be in very short supply. We also expect to see greater competition for chemical, application and sales engineers in the manufacturing industry. Across the healthcare sector we anticipate that the demand for assurance and regulatory affairs specialists will be especially high. Financial planning & analysis (FP&A), supply planning and internal recruitment specialists will also be in high demand across most industries. In the face of such challenges, we recommend that companies focus on retaining their best talent in Employers need to ensure they provide an attractive working environment, competitive salary and good training opportunities. When hiring, companies will need to actively promote the benefits of working for their company, bearing in mind that candidates may well have several job offers to consider. Organisations should also be prepared to hire professionals at a more junior level with a view to developing and training them in-house. There will be some significant variations between industries in the salary increases offered to job movers during In the retail and consumer sectors, for example, we anticipate increases of less than 5%. In the healthcare and financial services sectors, salaries are expected to be somewhat higher at 5-10%. The highest rises, up to 20%, will be seen for key engineering, sales and supply chain specialists in the industrial sector, as well as for the most in-demand security and data orientated IT talent. 277 Robert Walters Global Salary Survey 2016

279 We anticipate high levels of hiring activity will continue throughout 2016, especially among employers seeking bilingual professionals. TOP 4 IN-DEMAND SKILL SETS IN JAPAN Sales professionals Engineers Regulatory affairs specialists 4 FP&A managers Japan あ Demand for bilingual professionals outstripped supply KEY FINDINGS With Japanese language fluency being a requirement for most jobs, opportunities are limited for expat talent. UP TO 20% SALARY INCREASES EXPECTED FOR: Key engineering, sales and supply chain specialists in the industrial sector Security and data-orientated IT professionals A widening gap between the growing numbers of vacancies and available local talent is anticipated in UP TO 10% SALARY INCREASES EXPECTED IN THESE SECTORS: Financial services Healthcare UP TO 5% SALARY INCREASES EXPECTED IN THIS SECTOR: Retail and consumer Salary Survey 2016 Japan 278

280 Japan Japan OVERVIEW ACCOUNTING & FINANCE Hiring levels for accounting and finance professionals remained relatively stable across financial services and commerce & industry in FINANCIAL SERVICES There was an ongoing shortage of bilingual, qualified accountants and experienced finance professionals, with highest demand for junior candidates at associate level. Hiring of non Japanese-speaking accountants was primarily for roles requiring technical or productspecific knowledge and skills, for example product control and valuations. In the insurance industry, hiring managers experienced a severe shortage of qualified actuarial candidates those with JCPA/Zeirishi qualifications were particularly sought after. With an emerging scarcity of contractors, as more finance professionals take on permanent roles, some companies may appoint more junior staff with simplified job descriptions in Despite these talent shortages, we expect that salaries will remain stable. Overall we saw a continued need for qualified accountants to take up contract positions in 2015, although fewer positions came to market compared to In terms of sector demand, we saw particularly high numbers of new finance and audit vacancies in the consulting and realestate sectors. COMMERCE Heightened competition meant companies were prepared to increase salaries for junior KEY TRENDS bilingual financial analysts significantly in Professionals with 25 and more years experience were also sought to help re-engineer business processes, and increasing numbers of auditors with a Big 4 background were considered for finance roles. A growing trend we expect to develop further in 2016 saw more companies keen to develop a female-friendly culture to attract more women into management roles. As more Japanese companies plan to expand overseas, we also saw heightened demand for corporate tax experts and M&A specialists. In a parallel trend within financial services, there was a clear move towards more permanent hires, leading to a shortage of candidates for contract roles. As a result we saw a 5% increase in contract rates, which we expect to continue in In Osaka, there was ongoing demand for cost accountants and bilingual finance professionals with manufacturing experience to fill permanent roles. As demand for accounting skills grew, hiring managers were increasingly prepared to be flexible about candidates age and background in order to secure talent. We recommend that other companies take this approach in FINANCIAL SERVICES OPERATIONS The sustained strength of Japan s economic outlook encouraged financial services firms to hire greater numbers of junior professionals in Ongoing regulatory change also continued to drive demand for compliance professionals, and this will continue through Hiring managers have been increasingly ready to look beyond direct experience and appoint jobseekers who demonstrate strong potential for growing into a role. This is an effective strategy in a market where competition for experienced candidates is intense and top-tier professionals are regularly receiving multiple job offers. We expect the candidate-led market to last throughout 2016, and advise employers to continue taking this flexible approach. FRONT OFFICE Buy side companies were more active in the recruitment market than sell side firms in a busy In particular, strong investor interest in Japanese property ensured that real-estate professionals with acquisition and property management experience were highly sought after. Differing investor attitudes were reflected by the priorities of investment banks while foreign banks primarily sought equities specialists, Japanese institutions were more interested in candidates with fixed-income experience. With economic growth in 2016 predicted to outstrip 2015 performance, we anticipate another busy year of front office recruitment, once again with a focus on building for the future by hiring junior talent at the AVP level. GENERAL AFFAIRS & ADMINISTRATION As companies sought to make more efficient use of their budgets in 2015, we saw steady hiring for accomplished, bilingual office managers who could manage multiple general Salary increases for job movers will vary depending on industry; from less than 5% in the retail and consumer sectors through to 20% for key engineering, sales and supply chain specialists in the industrial sector. As business sentiment continues to improve, Japanese professionals are no longer as reluctant to move jobs and are actively seeking new roles. With the candidate-short environment expected to continue, hiring managers will be prepared to look beyond direct experience and consider jobseekers who demonstrate the potential to grow into a role. Demand for experts in cyber security, cloud computing, the Internet of Things and big data across all markets will see salaries for specialists rise by up to 20%. 279 Robert Walters Global Salary Survey 2016

281 Japan affairs, administration and HR support tasks. Jobseekers with specialist facilities management, business continuity planning and vendor management experience were also in demand. We expect these trends to continue in 2016, with competition for the best talent driving salary increases during the year. However, budget constraints meant that permanent hiring opportunities for experienced general affairs professionals were limited in The trend for filling admin and junior positions with temporary support continued, and a fall in the number of permanent positions led experienced permanent candidates to opt for lower-paid roles. In the commerce contract market, there was little change in the number of roles available although we saw employers become more flexible on rates. The shortage of experienced bilingual contract assistants in the general affairs, marketing and sales areas is set to continue during Rates for contract support roles in the financial services industry will continue to increase in 2016, when we expect to see further growth in the number of temporary roles shifting to contract vacancies. We also anticipate increases in the number of interim positions. HUMAN RESOURCES Companies expanded headcount during 2015 in the face of Japan s improving economic position and projections of accelerating growth in As a result, talent acquisition specialists became increasingly sought after by hiring managers. This trend was particularly strong in the financial services sector, where a serious shortage of internal recruiters will continue during Competition among hiring managers to recruit HR business partners, junior generalists and mid to senior-level compensation and benefit professionals, meanwhile, drove 10-20% salary increases for those who moved jobs in Above all, the continuing demand for bilingual HR professionals caused a severe shortage of talent in all specialisms, which will continue throughout In Osaka, this has been particularly serious at middle-management levels, where the ability to communicate effectively along regional lines of reporting is critical. In the contract market, companies will continue to seek candidates with a minimum of businesslevel fluency in English. Despite a serious scarcity of temporary internal recruiters and compensation & benefits specialists, there will continue to be an available pool of candidates for interim generalist HR roles in INFORMATION TECHNOLOGY Hiring levels for IT professionals differed significantly from sector to sector during A similar pattern will continue in 2016, when we anticipate particularly high levels of demand among social media and gaming employers. Experts in cyber security, cloud computing, the Internet of Things and big data, will be highly sought after, as will skilled IT salespeople across all market areas. Salaries for such specialists will rise by up to 20% compared with 10-15% for experts in other areas. IT COMMERCE A major drive by Japanese companies to internationalise their businesses led to heightened levels of competition among hiring managers for bilingual IT professionals during New roles came to market as companies increased headcount and expanded their Japanese operations. IT FINANCE Ongoing transformation projects ensured that business analysts and project managers were popular banking hires in 2015, while regulatory change continued to underpin demand for specialists in the security, technology risk and audit areas. There was a rise in hiring activity at European banks, with demand growing for application support professionals. Despite a slight slowdown in recruitment, US banks have been seeking developers, project managers and technology risk & IT audit specialists. Overall, we saw strong hiring in the insurance industry covering roles right up to chief information officer. Following a more challenging end to 2015, which led to hiring freezes among many banks and insurance companies, we Japan 280

282 Japan Japan OVERVIEW INFORMATION TECHNOLOGY (CONTINUED) expect that activity levels will pick up in 2016, with demand for security and risk professionals once more at the fore. IT ONLINE During recent years, the focus at many companies has been on hiring junior engineering and development talent. This has now shifted more towards supervisory roles, and we have seen lead engineers and project management professionals become especially sought after. In 2016, web companies will be increasingly keen to employ server-side and Hadoop engineers. Experts in Unity and the Coco2D game engine will be highly sought after by gaming companies. IT VENDOR & CONSULTING An increasing focus on security has driven strong hiring of specialists in all areas of network and software security in We anticipate this will continue throughout 2016, with a shortage of skills keeping salaries high. A need to process and interpret increasingly large amounts of data will drive an urgent need for data scientists and analysts, business intelligence engineers and consultants. As companies seek to develop products that cross traditional sectoral boundaries, professionals with backgrounds combining manufacturing experience with cloud, software and data expertise will be increasingly in demand. Rising demand for their services will continue driving global consulting firms to seek new talent. IT CONTRACT Contractors with ERP-related skills, particularly in SAP, will be sought after in 2016 as companies implement or upgrade their systems. We also expect the strong recent requirement for bilingual business analysts and project managers to continue throughout the year. However, it s likely that the shortage of skilled bilingual IT professionals in regions including Kansai will continue as jobseekers gravitate towards Tokyo. 281 Robert Walters Global Salary Survey 2016 LEGAL & COMPLIANCE There was strong demand for bilingual legal professionals to fill junior to mid-level in-house roles in 2015, and we expect that a continuing shortage of bilingual lawyers in 2016 will increase competition for their services as the year progresses. Overall, however, replacement hires continue to outnumber new positions in the legal sector. In contrast, regulatory change has caused the creation of new headcount in compliance departments, with demand especially strong in the AML (anti-money-laundering) and surveillance areas. We anticipate that firms will also continue to strengthen their pipeline of future leaders by hiring and developing junior home grown talent in MANUFACTURING The ongoing shortage of the most in-demand bilingual professionals in several key sales, engineering and supply chain specialisms will drive salary increases of up to 20% during AUTOMOTIVE We saw an increase in demand for engineers with skills across the consumer electronics and telecoms industries as car manufacturers continued to develop next-generation technologies for connected and driverless cars. This is a trend that we expect to accelerate in 2016 and beyond, as market readiness approaches. The high demand for automotive expertise drove salaries up by 5-10% in 2015, and we expect a similar rise to take place in INDUSTRIAL The need for bilingual sales, marketing and engineering professionals will further outstrip supply in 2016, as the number of available positions grows significantly faster than the talent pool. As a result, salaries for the best talent will continue to grow by up to 20%. As new Internet of Things, machine-to-machine and wearable technologies grow in demand, engineers harnessing hardware and software expertise will be increasingly required. In Osaka, the positive economic outlook will continue to drive hiring for technically-minded bilingual sales engineers in As companies seek to build market share, proven salespeople will be highly sought after throughout ENERGY & INFRASTRUCTURE We saw salary inflation during 2015 for on-site civil engineers, a trend that we anticipate will continue throughout 2016 and beyond. The emerging solar industry competed for talent across the full range of organisational roles, in a trend that s set to gather pace as the industry grows. Developers who can initiate new projects will be increasingly popular hires during CHEMICAL Hiring activity across the chemical sector was relatively buoyant during An increased number of foreign multinationals entered the Japanese market, creating new demand for specialist professionals. There was a key shift in focus during the year from manufacturing chemicals to lifescience chemicals, including personal care and pharmaceutical ingredients as well as agrochemicals, leading to an increase in demand for sales and engineering professionals with experience in ingredients and related areas. In particular, R&D and technical services were in the highest demand. This was also reflected in the shift from commodity production to specialist research and development in high-value, speciality chemicals. As a result, companies are increasingly seeking specialist scientific talent. RISK Several pockets of hiring activity were seen during 2015 in an otherwise generally quiet jobs market for risk specialists. For example, increased hiring by asset management and insurance companies persuaded some risk professionals to move from sell side to buy side firms. Market risk specialists were sought after by Japanese investment banks and securities companies, while the need for improved communication with regulators also drove greater demand for

283 Japan regulatory reporting project managers. We expect continued streamlining of top-heavy risk teams to continue in 2016 as experienced leavers are replaced with comparatively junior specialists. SALES & MARKETING MEDICAL A talent shortage across the board will extend throughout 2016 with technically-minded bilingual candidates being especially hard to find. Employers will face particular difficulties in the medical device market, where general manager-level talent as well as candidates with start-up and RA/QA experience will continue to be in high demand. PHARMACEUTICAL An ongoing focus on a range of therapeutic areas including CNS (central nervous system), oncology, diabetes and rare diseases will ensure specialists in these areas are highly sought after in Demand will also continue to grow for medical affairs specialists capable of providing scientific information as part of pharmaceutical companies communication programs. In Osaka, as more pharmaceutical companies outsource a range of functions, demand will continue to increase throughout 2016 for specialists to join contract research and contract sales organisations (CROs and CSOs). A talent shortage means that companies will also consider strong candidates from other areas to take medical device sales roles. CONSUMER & FMCG The need for bilingual sales and marketing talent will continue to grow at all levels as organisations seek to grow their market share in Increasing numbers of global retailers and manufacturers entering the Japanese market will be seeking commercial talent for country manager roles, and the need to develop closer retailer relationships is leading manufacturers to appoint new shopper marketing teams. RETAIL & HOSPITALITY Tourist numbers were at an historically high level in 2015, supporting a strong performance by Japan s retailers and hospitality businesses. Despite concerns about the economic slowdown in China, further growth is expected every year up to the 2020 Olympics, which will drive demand for English and Chinese-speaking retail staff and sales professionals. DIGITAL & ONLINE As digital marketing disciplines become more specialised, web analytics, social media, SEO and search engine marketing (SEM) experts will be increasingly sought after. The significant growth in apps is also leading to the launch of many start-up companies, who are seeking mobile-orientated analytical and development talent. Retail and consumer goods brands are set to be particularly active in recruiting social media experts during In Osaka, lower rates of pay have attracted fastgrowing web businesses to the region, including online travel agents and gaming companies, where they will continue to grow headcount during IT SOFTWARE Companies opted to create leaner, more revenue-focused businesses in 2015 and many reduced their back office roles to concentrate instead on hiring sales and customer relations professionals. In a related trend, partner sales specialists with strong connections to systems integration and consulting firms were particularly sought after. Encouragingly, we also saw a growing number of cloud-based start ups entering the market. Meanwhile, US and European companies were working hard to encourage the hiring of female professionals in this space, a trend we anticipate continuing. IT INFRASTRUCTURE & SERVICES Competition was intense for the shrinking pool of bilingual sales and marketing talent in Those moving jobs in 2016 will therefore receive multiple offers and salary increases. Professionals with cloud computing, big data analysis and cyber security sales skills will be particularly hard to source. As a result, companies will train candidates from other IT sales areas to redeploy their skills. SUPPLY CHAIN Hiring managers faced a growing shortage of technically skilled candidates in The number of jobseekers receiving multiple offers increased, particularly in the quality assurance and control areas. We expect that the talent pool will reduce further in 2016, driving continuing increases in salaries. A developing shortage of contract personnel is also set to cause a moderate increase in rates for the first time in several years. Across healthcare there was a continuing high requirement for demand/supply planners, whereas the oil and gas sector took a more cautious approach to hiring as they assessed the impact of government subsidies. In Osaka, we anticipate ongoing demand for bilingual supply chain and procurement professionals, especially at mid-manager level, as manufacturers continue to recover. Japan 282

284 TOKYO ACCOUNTING & FINANCE BANKING & FINANCIAL SERVICES PERMANENT ROLE PERMANENT SALARY PER ANNUM JPY ( ) Investment Banking/Securities 0-4 YRS' EXP 4-8 YRS' EXP 8-10 YRS' EXP Product Control m 6-10m 10-20m 10-18m 18m - 20m m+ Internal Audit m 6-9m 10-20m 10-18m 18m - 20m m+ Financial/Mgt Accounting m 6-8m m 8-15m 18m - 20m m+ Tax 6.5-8m 6.5-8m 8-20m 8-18m 18m - 20m m+ CONTRACT ROLE CONTRACT RATE PER HOUR JPY ( ) Investment Banking/Securities 0-4 YRS' EXP 4-8 YRS' EXP 8-10 YRS' EXP Product Control Internal Audit Financial/Mgt Accounting Tax NB: Figures are basic slaries exclusive of benefits/bonuses unless otherwise specified. 283 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

285 TOKYO ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT CONTRACT Large Organisation SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Chief Financial Officer 25-50m 25-50m Financial Controller 15-20m 15-20m SME Chief Financial Officer 15-25m 15-25m Financial Controller 11-15m 11-16m Accounting Internal Audit Manager 11-15m 11-15m Tax Manager 12-16m 12-16m Financial Accounting Manager 10-14m 10-14m Treasury Manager 8-12m 8-12m Credit Manager 8-12m 8-12m Senior Financial Accountant 7-10m 8-10m Tax Accountant m 8-11m Internal Auditor 8-10m 8-10m Cost Accountant 7-9m 7-9m Treasury Accountant 5-8m 5-8m Financial Accountant m 6-8m AP/AR Staff 4-6m 4-6m Financial Planning & Analysis Financial Planning Manager 12-16m 12-16m Business Controller 9-13m 10-13m Senior Financial Analyst 9-13m 10-13m Financial Analyst 7-10m 7-10m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Japan 284

286 TOKYO FINANCIAL SERVICES PERMANENT ROLE PERMANENT SALARY PER ANNUM JPY ( ) 0-4 YRS' EXP 4-8 YRS' EXP 8-10 YRS' EXP Project Management m m m 11-17m 15-20m m+ Middle Office 6-11m 6-11m m m 15-20m m+ Settlements 6-10m 6-10m 9-14m 9-14m 15-18m m+ Head of Marketing 15-23m m+ Media/Press Relations 5-7.5m 5-7.5m 7-11m 7-11m 15-20m m+ Corporate Communications 6-8.5m 6-8.5m 8-12m 8-12m 12-20m m+ Investor Relations/Events m m 6-9.5m 6-9.5m 10-15m m+ CONTRACT ROLE CONTRACT RATE PER HOUR JPY ( ) 0-4 YRS' EXP 4-8 YRS' EXP 8-10 YRS' EXP Project Management Middle Office Settlements NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 285 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

287 TOKYO GENERAL AFFAIRS & ADMINISTRATION ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Financial Services Administration Manager 8-11m 8-11m Executive Secretary 6-9m 6-9m Translator/Interpreter 5.5-9m m General Affairs Staff 5-7.5m 5-7.5m Office Administrator 5-7.5m 5-7.5m Group Secretary 4.5-8m 5-8m Receptionist m m Commerce & Industry General Affairs Manager m m General Affairs Staff 4-6.5m 4-6.5m Office Manager 7-11m 7-11m Administration Manager 6-10m 6-10m Administrative Assistant m m Executive Secretary m m Translator/Interpreter 5-9.5m 5-9.5m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Japan 286

288 TOKYO HUMAN RESOURCES ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Banking & Financial Services Generalist HR Director m m HR Manager/Generalist (6+ yrs' exp) 8-21m 8-21m HR Business Partner 10-20m 10-21m HR Generalist (0-6 yrs' exp) m m Recruiting Recruiting/Staffing Manager 12-22m 12-22m Recruiting Staff/Co-ordinator 5-10m m Learning & Development Learning & Development Head 14-20m 14-20m Training Specialist m m Compensation & Benefits/Payroll Compensation & Benefits Manager/Director m m Compensation & Benefits Specialist 6-13m 6-13m Payroll Staff 5-7.5m 5-7.5m Commerce & Industry HR Director/Head m m Head of Training/L&D/OD 10-22m 10-22m HR Manager m m Recruiting/Staffing Manager 10-15m 10-15m Compensation & Benefits Manager m m HR Generalist/Staff m m HR Specialist 5-10m m HR Staff/Administrator 5-9m 5-9m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 287 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

289 TOKYO INFORMATION TECHNOLOGY FINANCE BANKING ROLE PERMANENT CONTRACT Chief Information Officer 30-50m 30-50m Head of Development/Support 22-30m 22-30m Head of Infrastructure 20-25m 20-25m Program Manager 15-20m 15-20m UNIX Manager 15-20m 15-20m SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Senior Developer 13-19m 13-19m Project Manager 10-16m 10-16m Information Security Officer 10-20m 15-20m Business Analyst 10-15m 10-15m Database Administrator 8-12m 8-12m UNIX Systems Administrator 8-15m 8-15m Wintel Systems Administrator 8-12m 8-12m FIX Specialist 8-15m 8-15m Applications Support 8-15m 8-15m Market Data Engineer 8-13m 8-13m Network Engineer 8-13m 8-13m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Japan 288

290 TOKYO INFORMATION TECHNOLOGY FINANCE NON-BANKING ROLE PERMANENT CONTRACT Chief Information Officer 20-30m 20-20m Head of Development 15-18m 15-18m Program Manager 10-15m 10-15m BPR 8-12m 8-12m SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Information Security Officer 10-16m 10-16m Infrastructure Manager 8-12m 8-12m UNIX Systems Administrator 6-10m 6-10m Systems Integration 5-10m 5-10m Developer - Java 6-10m 6-10m Business Analyst 6-10m 6-10m Market Data Engineer 6-8m 6-8m Database Administrator 6-8m 6-8m Systems Analyst 6-9m 6-9m Wintel System Administrator 5-8m 5-8m Application Support 5-7m 5-7m Associate Developer 4-5m 4-5m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 289 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

291 TOKYO INFORMATION TECHNOLOGY COMMERCE ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) IT Director 15-20m 15-20m Service Delivery Manager 10-15m 10-15m IT Manager 10-15m 10-15m Application Manager 8-15m 8-15m Infrastructure Manager 8-12m 8-12m Project Manager 8-12m 8-12m Database Administrator 6-8m 6-8m Network Engineer 6-8m 6-8m Infrastructure Engineer 5-8m 5-8m Systems Engineer 5-8m 5-8m Application Engineer 5-8m 5-8m Software Developer 5-8m 5-8m Systems Administrator 5-8m 5-8m Help Desk 4-6m 4-6m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 Japan 290

292 TOKYO INFORMATION TECHNOLOGY ONLINE ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) IT Manager 10-15m 10-15m Application Manager 9-14m 9-14m Infrastructure Manager 9-14m 9-14m Project Manager 9-14m 9-14m Database Administrator 5-9m 5-9m Network Engineer 5-9m 5-9m Infrastructure Engineer 5-10m 5-10m Systems Engineer 5-10m 5-10m Application Engineer 5-10m 5-10m Software Developer 5-10m 5-10m Systems Administrator 5-9m 5-9m Web Designer 5-9m 5-9m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 291 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

293 TOKYO INFORMATION TECHNOLOGY VENDOR & CONSULTING ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Solution Architect 12-17m 12-18m Service Delivery Director 16-22m 16-22m Program Manager 13-17m 13-17m Project Manager 10-14m 10-15m Storage Engineer 9-13m 9-13m IT Consultant 9-13m 9-14m Pre-sales Engineer 9-15m 9-16m Field Application Engineer 9-13m 9-13m Senior ERP Consultant 8-13m 9-13m Database Administrator 7-10m 7-10m Data Analyst 8-10m 8-11m ERP Consultant 7-10m 7-10m Telephony Engineer 8-10m 8-10m Network Engineer 7-13m 7-14m System Engineer 6-10m 6-10m Software Developer 6-11m 6-12m Embedded Developer 6-11m 6-11m CAD Engineer 6-9m 6-9m Systems Administrator 6-9m 6-9m Post-sales Engineer 5-10m 5-11m Technical Support Engineer 5-10m 5-11m Quality Assurance Engineer 5-8m 5-8m Localisation Engineer 5-8m 5-8m Project Co-ordinator 5-7m 5-7m Security Engineer 7-15m 8-17m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 15 Robert Walters Global Salary Survey 2016 Japan 292

294 TOKYO SALARIES LEGAL & COMPLIANCE ROLE PERMANENT SALARY PER ANNUM JPY ( ) 0-3 YRS' EXP 4-7 YRS' EXP 7+ YRS' EXP Private Practice Qualified Lawyer 9-16m 9-16m 11-21m 12-22m 20-28m 21-30m Paralegal m m 5-7m 5-7m 7-9.5m 7-9.5m Financial Services Legal Counsel 11-17m 10-17m 15-22m 15-23m 19-25m 19-28m Compliance Manager 7-10m 7-10m 9-18m 9-18m 19-23m 19-23m Commerce & Industry Lawyer 8-14m 8-14m 11-19m 11-20m 21-29m 21-28m Legal Counsel 7-15m 7-15m 8-16m 8-16m 13-20m 13-25m Contract Manager 4-7m 4-7m 8-16m 8-16m 11-13m 11-13m Legal Staff 4-5.5m 4-5.5m 7-9m 7-9m 9-10m 9-10m Legal Secretary 3.5-7m 4-7m 4.5-7m m 7-8m 7-8m RISK ROLE PERMANENT SALARY PER ANNUM JPY ( ) 0-3 YRS' EXP 4-7 YRS' EXP 7+ YRS' EXP Credit Risk Credit Risk Specialist m m 11-19m 11-19m 18m+ 18m+ Credit Risk Manager 9-12m 9-12m 13-18m 13-18m 19m+ 18m+ Market Risk Market Risk Specialist m m 13-19m 13-19m 19m+ 18m+ Quantitative Analyst 6.5-9m 6.5-9m m m 18.5m+ 18m+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 293 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

295 TOKYO MANUFACTURING ROLE PERMANENT SALARY PER ANNUM JPY ( ) Industrial President/CEO 17-35m 17-35m Sales Director 12-19m 12-19m Sales Manager 9-15m 9-15m Marketing Manager m m Sales & Marketing Executive m m Sales Engineer m m Project/Program Manager 9-15m 9-15m Application/Design Engineer m m Process/Industrial Engineer 6-9.5m 6-9.5m Field Service Engineer m m Chemical President/CEO 15-30m 15-30m Sales & Marketing Director 12-20m 12-20m Sales & Marketing Manager 8-14m 8-14m Sales & Marketing Executive 6-13m 6-13m Product Manager 7-13m 7-13m Marketing Communications Manager 7-12m 7-12m Business Development Manager 8-15m 8-15m R&D Director 12-18m 12-18m R&D Manager 8-14m 8-14m Technical Services 5-10m 5-10m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 17 Robert Walters Global Salary Survey 2016 Japan 294

296 TOKYO MANUFACTURING ROLE PERMANENT SALARY PER ANNUM JPY ( ) Energy & Infrastructure President/CEO 15-30m 15-30m Marketing Director 12-20m 13-18m Marketing Manager 8-15m 8-15m Sales Director 12-20m 12-18m Project Manager 8-15m 8-15m Field Service Engineer 5-8m 6-8m Business Development Manager 10-15m 10-15m Automotive Sales Director/Engineering Director m 13-18m Sales Manager/Engineering Manager m 8-13m Account Manager/Sales Engineer m 6-11m Project Manager/Program Manager m 8-12m Application Engineer/Design Engineer 6-9m 6-9.5m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 295 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

297 TOKYO SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM JPY ( ) Medical President/Country Manager 16-30m 16-30m Business Unit Head 18-25m 18-25m Sales Manager/Director 10-20m 10-20m Marketing Manager/Director 10-20m 10-20m Pharmacovigilance Manager/Director 10-14m 10-14m RA/QA Head 12-18m 12-18m RA/QA Manager 10-15m 10-15m Product Manager 6-10m 6-10m Pharmaceutical President/Country Manager 16-30m 16-30m Business Unit Head 18-25m 18-25m Marketing Manager/Director 12-20m 12-20m Medical Affairs Manager/Director 12-20m 12-20m Clinical Research Manager/Director 10-18m 10-18m Business Development Manager/Director 12-18m 12-18m Clinical Research Associate 6-9m 6-9m Product Manager 7-10m 7-10m Consumer/FMCG President/Country Manager 20-35m 20-35m Sales Manager/Director 9-20m 10-20m Marketing Manager/Director 12-20m 12-20m Commercial Manager/Director 10-20m 10-20m Brand/Product Manager 7-12m 7-12m Marketing Research Manager 8-12m 8-12m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 19 Robert Walters Global Salary Survey 2016 Japan 296

298 TOKYO SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM JPY ( ) Retail & Hospitality General Manager 15-30m 15-30m Retail Manager/Director 9-20m 9-20m Merchandising Manager/Director 8-17m 8-17m Communications Manager/Director 7-13m 7-13m Store Manager 5-10m 6-10m Visual Merchandising Manager 7-12m 7-12m Digital & Online Country Manager 18-30m 18-30m E-commerce Manager/Director 8-17m 8-17m Online Marketing Manager/Director 8-17m 8-17m Digital/Adtech Sales Manager 8-13m 8-14m Web Director 5-8m 6-9m IT Software Country Manager 20-35m 20-35m Sales Manager/Director 9-23m 10-23m Marketing Manager/Director 8-22m 10-22m Channel Sales Manager 9-15m 9-15m Sales Account Manager 7-14m 7-14m IT Infrastructure & Services Country Manager 20-35m 20-35m Marketing Manager/Director 8-22m 10-22m Sales Manager/Director 9-23m 10-23m Product Marketing Manager 8-14m 8-14m Sales Account Manager 7-14m 7-14m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 297 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

299 TOKYO SUPPLY CHAIN ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Operations Director 14-20m 14-20m Factory/Plant Manager 15-18m 15-20m Supply Chain Manager 9-15m 9-15m Logistics Manager 7-12m 7-12m Warehouse Manager 8-10m 8-10m Procurement Manager 9-14m 9-14m Indirect Procurement Manager 10-15m 10-15m Customer Service Manager m 7-11m QA/QC Manager 9-15m 9-15m Facilities Manager 9-13m 9-13m Project Manager 8-14m 8-14m Program Manager 9-15m 9-15m Production Control Manager 10-13m 10-14m Supply Chain Staff 4.5-8m 5-8m Logistics Staff 4-6.5m 4-6.5m Warehouse Co-ordinator 4-6.5m 4-6.5m Import/Export Staff 3-5.5m 3-5.5m Planner 6-9m 6-9m Procurement Staff 4.5-7m 5-7.5m Customer Service Staff 4-6m 4-6m QA/QC Specialist 5-9m 5-9m Facilities Management Staff 4.5-6m 4.5-6m Production Control Staff 4.5-7m 5-7.5m Process Engineer 5-9m 5-9m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 21 Robert Walters Global Salary Survey 2016 Japan 298

300 OSAKA SALARIES ACCOUNTING & FINANCE ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Chief Financial Officer 18-26m 18-26m Financial Controller 12-18m 12-18m Finance Manager m m Financial Analyst 5-9.5m 5-9.5m Senior Accountant 6-8.5m 6-8.5m HUMAN RESOURCES ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) HR Director 12-19m 12-20m HR Manager 8-13m 8-13m Senior HR Generalist m m Executive Secretary 4-7.5m 4-7.5m HR Generalist/Staff m m Translator 4-6m 4-6m INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) IT Director 14-21m 14-21m IT Manager 9-14m 9-14m Project Manager 7-10m 7-10m System Engineer 6-9.5m 6-9.5m Network Engineer 6-8.5m 6-8.5m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 299 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

301 OSAKA SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM JPY ( ) Industrial & Chemical President/CEO 15-25m 15-25m General Manager/Divisional Head 12-20m 12-20m Sales Director 10-15m 10-15m Sales Engineering Manager 8-12m 8-12m Business Development Manager 8-13m 8-13m Sales Manager 7-12m 7-12m Marketing Manager 7-11m 7-11m Sales Executive 6-8 m 6-8 m Sales Engineer 5-9m 5-9m Design Engineer 5-9m 5-9m Chemical Engineer 5-8m 5-8m Consumer & Retail Marketing Manager 7-10m 7-10m Area Manager 5-8m 5-8m Store Manager 5-7.5m 5-7.5m Visual Merchandise Manager 5-6.5m 5-6.5m Marketing Executive 5-6.5m 5-6.5m Sales Executive 4-7m 4-7m Store Sales Associate 3-4.5m 3-4.5m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 23 Robert Walters Global Salary Survey 2016 Japan 300

302 OSAKA SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM JPY ( ) Information Technology & Online Branch Manager 10-15m 10-15m Sales Manager 9-12m 9-12m Sales Account Manager 7-10m 7-10m Sales Executive 4-6m 4-6m Healthcare General Manager/Country Manager 15-25m 15-28m Marketing Director 12-25m 12-25m Sales Manager 7-14m 8-14m Clinical Development Manager 8-12m 8-13m Regulatory Affairs 6-15m 6-15m Marketing/Product Manager 6-12m 7-12m Clinical Scientist/Researcher 5-8m 5-8m Clinical Research Associate (CRA) 5-8m 5-8m Quality Assurance 5-8m 5-8m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 301 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

303 OSAKA SUPPLY CHAIN ROLE PERMANENT CONTRACT SALARY PER ANNUM JPY ( ) RATE PER HOUR JPY ( ) Operations Director 14-22m 14-22m Factory/Plant Manager 10-15m 10-15m Procurement Manager m m QA/QC Manager m m Supply Chain Manager 7-12m 7-12m Import/Export Staff m m Supply Chain Staff m m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 25 Robert Walters Global Salary Survey 2016 Japan 302

304 Malaysia RECRUITMENT IN MALAYSIA WILL BEGIN CAUTIOUSLY IN 2016, ALTHOUGH WE ANTICIPATE HIGHER LEVELS OF ACTIVITY IN THE SECOND HALF OF THE YEAR. OVERALL, WE EXPECT TO SEE ONGOING DEMAND FOR SPECIALIST TALENT ACROSS A RANGE OF INDUSTRIES INSIGHT Hiring activity in 2015 was slower overall compared to 2014, particularly during the first half of the year when organisations adopted a more cautious approach during the implementation of the Goods and Services Tax (GST). However, the second half of 2015 saw increased hiring levels as roles previously placed on hold were actively being recruited. Malaysia continued to grow its reputation as a regional hub for shared services and offshoring projects in 2015, creating a range of senior management and specialist roles. There was a critical lack of skills available for these positions, exacerbated by the continuing talent drain as Malaysian professionals moved overseas for global work exposure. To address the talent deficit, the government established TalentCorp Malaysia in order to attract overseas Malaysians back home. In banking and financial services, candidates with risk and compliance expertise were in high demand, while tax professionals within accounting and finance were also sought after. As expected in such a talent-short market, HR professionals with employee engagement, employer branding, and compensation & benefits expertise remained a key hiring priority. Meanwhile, Malaysia s digital industry continued to grow and e-commerce professionals with legal and IT experience were high on the recruitment agenda. The FMCG, pharmaceutical and technology sectors all had strong recruitment requirements and we anticipate that this will continue in EXPECTATIONS In 2016, we expect hiring managers to remain cautious due to external global market conditions, particularly in the first half of the year. This will be most noticeable within banking and financial services. Across the board, headcount will initially only be increased for critical hires. Across the consumer market, however, recruitment levels will remain strong and we don t anticipate a slowdown in FMCG recruitment, for example. As we enter the second half of 2016, we expect hiring activity to increase as the market begins to stabilise. Despite slower-paced recruitment, candidates with relevant, specific experience will remain in demand throughout the year, particularly sales and marketing professionals and those with tax, cloud or big data expertise. In banking, professionals experienced in regulatory and risk governance will be priority hires. To secure top talent we advise hiring managers to focus on monetary benefits for lower-level employees, and on professional and career development for leadership candidates. Overseas or career secondments and involvement in rewarding executive programs will be particularly attractive. Malaysia s candidate-short market means certain salaries will rise in 2016, but at a slower rate. However, key talent and returning Malaysians can command premium salaries. Specifically, we expect compensation in banking and IT will continue to grow due to increasing regulatory requirements in banking and a skills shortage within IT. 303 Robert Walters Global Salary Survey 2016

305 Hiring managers are expected to remain cautious in the first half of 2016 due to external global market conditions. Across the board, headcount will only be increased for critical divisions. However, recruitment is anticipated to rise as the market begins to stabilise in the latter half of % (AJI) Year-on-year increase in the number of jobs advertised in Malaysia + 13% (AJI) Year-on-year increase in advertised roles in accounting and finance Malaysia KEY FINDINGS 17% Increase in marketing roles advertised as companies felt the pressure to increase revenue via creative marketing approaches (AJI) Malaysia continued to grow its reputation as a regional hub for shared services and offshoring projects in 2015, creating a range of senior management and specialist roles. (Whitepaper) TOP REASONS WHY MALAYSIANS LEAVE THEIR JOBS To secure top talent we advise hiring managers to focus on monetary benefits for lower-level employees, and on professional and career development for leadership candidates. Felt undervalued Company culture no longer a fit Felt underpaid AJI: Robert Walters Asia Job Index Q v Q Whitepaper: Robert Walters Insights From The Exit Process 2015, 803 respondents. Malaysia 304

306 Malaysia Malaysia OVERVIEW ACCOUNTING & FINANCE Recruitment of finance and accounting professionals remained active in the first half of 2015, with ongoing competition for the best talent in the market. This was driven by the implementation of the new tax system in April, which meant companies in Malaysia hurried to ensure their businesses were compliant with GST. As such, we saw continual demand for tax professionals. Although activity slowed somewhat in the second half of the year, we did see ongoing demand in key areas. For example, a key trend during 2015 saw the majority of multinationals centralising their business functions by migrating finance teams to a shared services model. This effort to reduce operating costs led to greater opportunities for qualified accountants, in particular for professionals with project management experience and shared services exposure. In the current globalised real-time reporting era, speed and efficiency from accounting professionals was essential. Candidates proficient in accounting systems, and with experience in multi-country reporting, were preferred. Within shared services centres, there was also an increasing demand for qualified accountants with both consultancy and commercial experience. As more global business centres migrated to Malaysia, such professionals were required for their expertise in core accountancy, especially within financial planning and analysis and international tax. In 2016 we will continue to see a steady demand for accounting professionals across all industries. We anticipate increased requirements for candidates experienced in project management and the shared services business environment, as migrations to shared services in Malaysia continue to gather pace. Commercially-minded accountants and tax professionals skilled in GST will also continue to be highly sought after throughout the year, as companies carry on integration of GST into their business models. Due to talent scarcity in these niche areas, we expect companies to consider candidates from other countries within Southeast Asia who have prior experience in this area of tax. As more companies move their global operations into shared services centres in Malaysia, native Japanese and Korean speakers will be even more in demand to support their respective countries in these shared setups. The emphasis on Mandarin language capabilities will continue to increase, especially if the company is serving, or plans to serve the China, Taiwan and Hong Kong markets. To attract the best candidates, we urge companies to look beyond CVs, in terms of matching key responsibilities to job descriptions. Accounting professionals are often highly versatile and able to contribute to both commercial and the shared services environment, bringing different perspectives and solutions. Often these potential employees are only uncovered after engaging in a thorough personalised screening process. Job movers in 2016 will be able to command an average 10-20% salary increment. BANKING & FINANCIAL SERVICES FRONT OFFICE Hiring activity started slowly in 2015 as the majority of banks introduced strict headcount budgets due to an anticipated slowdown in the economy. Through the year we saw several banks streamline their business and offer separation schemes on a voluntary basis to employees. This strain on recruitment budgets was more profound within investment banking due to a drop in capital market transactions; we expect this trend to continue throughout Similarly, we noted reduced hiring activity in the treasury markets where recruitment focused on replacement roles. We saw more positive trends within the consumer banking sector, where demand for wealth management professionals rose particularly for candidates with product and sales management experience. Faced with a talent crunch in this niche area, banks also considered professionals with non-wealth management backgrounds, providing them with internal training to develop the required skills. In 2015, we witnessed continual demand from corporate and commercial banks for senior relationship managers with more than five years experience. Despite the recent downturn and cost-cutting measures by banks, frontline relationship bankers were minimally affected. Demand for experienced relationship managers who can work independently and bring a network of clients along with them will be in high demand during In addition, as banks are in the process of developing and enhancing KEY TRENDS We anticipate increased demand for accounting candidates experienced in project management and the shared services business environment, as migrations to shared services in Malaysia continue to gather pace. Despite a general global slowdown and growing competition from other markets, Malaysia remains the biggest player in the global Islamic banking industry. This will drive recruitment of Islamic banking professionals, especially in Islamic asset management. We expect a significant increase in demand for software developers as organisations move towards third-party outsourcing for softwarerelated projects. With increased foreign direct investment coming into Penang, the region has been identified as a hub for semiconductor manufacturers as well as E&E manufacturing. 305 Robert Walters Global Salary Survey 2016

307 Malaysia their transaction banking systems, product specialists in transaction banking will be highly sought after. We expect salaries to increase by 20-25% for job movers in this area during Consumer banks started taking significant steps to engage with emerging innovations via online channels, digital banking and collaborations with smaller financial technology (fintech) players. Candidates in these sectors will be in demand in the year ahead. Despite a general global slowdown and growing competition from other markets, Malaysia remains the biggest player in the global Islamic banking industry. In 2016, we anticipate that recruitment of Islamic banking professionals will rise, especially in Islamic asset management, which is rapidly growing in Malaysia and is a popular offering by fund management companies in the country. Islamic fund managers, investment managers or portfolio managers in equities or fixed income (especially in global Sharia-compliant bonds) will be most sought after. Employers will need to offer a 25-30% basic salary increment for successful job movers in this area. MIDDLE & BACK OFFICE Hiring activity across the middle and back office began strongly in 2015, with new roles available to meet the demands of tighter banking regulations as well as project improvements. As the year progressed, we saw more cautious market sentiment both from employers and employees. Employers were driven by cost and headcount restraints, whereas employees were concerned with job security given headline news of the voluntary separation scheme (VSS) and right-sizing exercises from some major banks. However, there was still increasing demand for certain growing areas such as KYC (Know Your Customer), AML (Anti-Money-Laundering) and risk modelling. Whereas already-established functions such as operations and finance across the banking and insurance sectors experienced normal attrition. Compared with 2015, we expect to see continual hiring activity throughout However, hiring processes may take longer with more consideration and levels of approval needed to secure the right talent. The key hiring areas will be in asset liability management, nontraded market risk and operational risk. As firms focus on building their digital business channels, we anticipate strong requirements for talent with experience in project management and digital transformation to further support this area of expansion. Fund houses and private equity firms experienced steady growth over the past few years and this has triggered new demand for dedicated support functions in-house. These include finance or fund controllers and middle operations talent. We will continue to see average increments in the range of 20-25% for job movers in HUMAN RESOURCES In 2015, companies specifically sought HR business partners with the ability to strengthen employee engagement and employer branding. This requirement was driven by the need to address the acute talent shortage in Malaysia. As such, talent acquisition and development specialists also saw increased opportunities, thanks to their expertise in retaining top-performing employees. As more organisations focused on attracting candidates through improved salary packages, companies also sought those skilled in compensation and benefits. However, hiring these professionals was a challenge as firms faced a particular shortage of quality candidates in this area. A similar shortage was in evidence across talent acquisition and management. Another key trend saw an increase in the number of companies moving their regional HR positions to Malaysia. This created greater learning and succession planning opportunities for local candidates enabling them to gain exposure and experience within a range of different HR functions. Companies in Malaysia are increasingly recognising the HR function s ability to contribute strategically to the business. In 2016, we expect that companies will continue to place greater importance on HR and its commercial value to the business. As HR professionals become increasingly aware of their vital role in organisations, we recommend that companies provide them with more decision- Malaysia 306

308 Malaysia Malaysia OVERVIEW making responsibilities in order to increase job satisfaction and talent retention. The HR structure in multinational corporations took a new direction in Specialist functions such as learning & development as well as compensation & benefits have started to evolve into independent departments and will continue to be based in Malaysia, reporting to a regional HR head. As this trend continues to be more prevalent in 2016, there will be increased hiring of HR specialists with autonomy to drive their own functions, and greater demand for generalists who will be given more opportunities to move into a specific area of HR. Job movers in 2016 will see a very wide range of salary increments averaging 20-30%. Areas with a limited talent pool such as compensation and benefits can expect to receive a salary increment at the higher band of the percentage. INFORMATION TECHNOLOGY The IT jobs market in Malaysia saw healthy levels of activity in the first half of Demand was particularly strong for project managers and business analysts within the financial services and shared services sectors, thanks to the implementation of a number of technology projects. We also noticed an increase in job opportunities for infrastructure specialists and project managers. This was driven by organisations seeking to adopt cloud technology for their IT infrastructure and security. In addition, the greater volume of big data project implementations in 2015 created more demand for developers and data scientists. One of the strongest trends we observed throughout 2015 was the rapid expansion of regional IT hubs in Malaysia, which led to an acute talent shortage in key positions. Professionals with expertise in big data, cloud services and social computing were in particularly short supply, creating a candidate-led market. In 2016, we anticipate a number of developments in Malaysia s IT industry. Firstly, as IT consulting and shared services firms continue to establish their Asia-Pacific 307 Robert Walters Global Salary Survey 2016 regional hubs in Malaysia, we expect to see more competition for IT professionals. Hiring managers will find it difficult to source experienced senior-level IT candidates with both technical and people management skills due to a likely talent shortage in this area. There has also been a significant increase in demand for software developers as organisations move towards third-party outsourcing for their software-related projects. In addition to this, the digital space has experienced rapid growth as larger organisations look to follow the success of smaller companies by utilising digital channels to grow their business. Similarly, we expect recruiters to continue experiencing difficulty when sourcing specialists within big data and e-commerce, as the talent pool in Malaysia is limited. Hiring managers may need to look outside of Malaysia for this talent in order to have sufficient resources to complete projects within their specific timeframes. With increasing competition to attract and retain the best talent, employers should offer competitive remuneration, strong professional development opportunities and clearly defined career paths. Salary increases should also form a key part of retention strategies. In 2015, professionals who remained in their role received salary increases between 5-10%, while those switching positions typically benefited from a pay rise of 15-25%. In 2016, we foresee this trend continuing, with further salary increases for those in highly competitive areas where demand outweighs supply particularly in the software development and digital spaces. LEGAL & COMPLIANCE Due to the growing number of start-ups in the e-commerce and technology sectors we saw rising demand for in-house legal counsels skilled in information technology and intellectual property. However, the ongoing talent scarcity in this area meant hiring managers were unable to attract enough professionals to satisfy the level of demand. Similarly, banks and insurance companies faced challenges securing compliance professionals due to the limited candidate pool available in Malaysia. As these firms placed greater emphasis on corporate governance-related functions, specialists with skills and experience in anti-money-laundering and regulatory compliance were highly sought after. In addition, hiring managers experienced skills gaps in the existing compliance talent pool. This was particularly noticeable in terms of regulatory knowledge. As a consequence, a number of candidates were unable to meet hiring requirements in this area. Another key trend during 2015 saw increased demand from law firms seeking corporate and commercial lawyers with experience in the banking and finance sector. As a result of tightened industry regulations, we expect that legal and compliance professionals will continue to be a key hiring priority in Organisations will be competing to secure the limited talent available and in order to gain competitive advantage, hiring managers need to recognise the importance of career growth opportunities and professional exposure. Indeed, these are the top considerations of mid to senior-level professionals when moving to a new role. Those who are able to provide attractive compensation and benefits, as well as additional incentives such as flexible working, will stand out from their competitors. We expect salary increments of 20-25% for those moving jobs in 2016 due to the increasing demand for talent in this sector. SALES & MARKETING Demand for sales and marketing professionals remained strong across a range of industries in Most notably across financial services, IT, telecommunications, e-commerce, electronics, retail and professional services. New headcount growth in these sectors was driven by rapid growth and expansion plans in Malaysia. Demographic trends also started to influence hiring in A younger Malaysian population with a growing demand for online offerings, meant e-commerce start-ups mushroomed as the year progressed. Consequently, demand for senior talent in leadership positions grew, as new businesses sought heads of sales and marketing to spearhead their development.

309 Malaysia FMCG companies sought experienced mid-level managers with both technical and leadership abilities. These professionals were expected to facilitate and drive revenue for new product launches. Those with brand and trade marketing plus key account experience were especially popular hiring choices. In the retail sector we noticed greater hiring activity following the growth of mass and luxury labels within Malaysia. Boutique sales assistants and managers were a key hiring priority in light of continual store openings. Professionals in the pharmaceutical and healthcare industries, however, were conservative in their hiring activity. This was due to company reorganisation, including downsizing, business integration and process improvements. Despite these challenges, demand remained for sales managers, product managers and medical affairs specialists as firms in the healthcare industry sought to gain competitive advantage. Sales and account management professionals also benefited from expansion activities within manufacturing plants in Malaysia, as companies recruited revenue-generating professionals to increase their market share. In addition, business and customer analytics specialists became a hiring priority as firms focused their marketing efforts on targeting select demographics for their products and services. We recommend that companies recognise the importance of stability and showcase their corporate direction to attract and retain top talent throughout Conducting exit interviews with departing employees can also provide valuable insight. SUPPLY CHAIN, PROCUREMENT & ENGINEERING In 2015, the entrance of several new players stimulated growth in the e-commerce industry. This led to greater demand for high-performing talent, specifically in project management, transportation and warehousing, both across online retail organisations and third-party service providers. In order to streamline operations and reduce costs, a number of organisations introduced supply chain clusters in Asia-Pacific and Southeast Asia. As a result, multi-skilled professionals with international experience and the ability to take on multiple portfolios were highly sought after. In particular, HR managers pursued specialists with combined experience in demand planning, procurement and logistics to lead entire supply chain operations. The demand for these professionals will continue in 2016, while those with a strong background in freight forwarding and logistics, alongside credible import and export experience, will also be popular hires. A number of international organisations continued to expand into Malaysia in 2015, designating it their principle hub for regional operations. These multinationals leveraged Malaysia s robust infrastructure to increase their manufacturing capabilities and add new product lines. As a result, recruitment for new and replacement positions remained active across the industrial and manufacturing sectors. The growth in manufacturing plants across Malaysia increased opportunities for engineering candidates. Particularly in demand were those with specific function experience, such as maintenance and operations. As health and safety became an increasing focus, job offers increased for health and safety executives across numerous industries. We anticipate that hiring managers will continue their drive to attract the top professionals in supply chain, procurement and logistics. We also foresee that emerging SMEs seeking to grow their businesses may have to develop attractive remuneration packages to hire top talent from multinational corporations. With increased foreign direct investment coming into Penang, the area has been identified as a regional hub for semiconductor manufacturers, as well as electronics and electrical (E&E) manufacturing. This will, in turn, increase job openings for supply chain professionals. Malaysian talent with regional and global experience in supply chain planning, warehousing and procurement will be high on the recruitment agenda. In light of growing demand and to create a wider talent pool, we encourage line managers to consider not only potential candidates with strong technical skills, but professionals from related industries. Job movers in 2016 can expect salary increments starting from 15%. Malaysia 308

310 KUALA LUMPUR ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM MYR (RM) Finance Chief Financial Officer k k+ Head of Shared Services k k+ Finance Director - MNC k k Finance Director - SME k k Financial Controller - MNC k k+ Head of Functions k k+ Financial Controller - SME k k+ Senior Finance Manager k k FP&A Manager k k+ Corporate Finance Manager k k+ Finance Manager/Team Lead k k Accounting & Taxation Tax Manager k k+ Credit Controller k k+ Internal Auditor - Manager k k Cost Controller k k+ Accountant k k AP/AR Analyst 54-96k 54-96k Analyst Senior Financial/Business Analyst k k Financial/Business Analyst 60-96k 60-96k Treasury Treasury Manager k k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 309 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

311 KUALA LUMPUR BANKING & FINANCIAL SERVICES FRONT OFFICE ROLE PERMANENT SALARY PER ANNUM MYR (RM) 4-7 YRS' EXP 8-12 YRS' EXP 12+ YRS' EXP Global Markets Treasury Sales k k k k 360k+ 360k+ Treasury Trader k k k k 264k+ 264k+ Investment Banking Corporate Finance k k k k 264k+ 264k+ Debt/Equity Capital Markets k k k k 264k+ 264k+ Investment Management Private Equity k k k k 360k+ 360k+ Fund Manager k k k k 300k+ 300k+ Research Analyst k k k k 300k+ 300k+ Retail Banking Retail Sales and Distribution 66-90k 66-90k k k 192k+ 192k+ Retail Products 48-96k 48-96k k k 240k+ 240k+ Transaction Banking Cash Management 54-96k 54-96k k k 240k+ 240k+ Trade Finance 54-96k 54-96k k k 240k+ 240k+ Wealth Management Wealth Management Products 60-96k 60-96k k k 240k+ 240k+ Premier/Priority Banking (RM) 60-96k 60-96k k k 180k+ 180k+ Wholesale Banking Corporate Banking (RM) k k k k 240k+ 240k+ Commercial Banking (RM) k k k k 180k+ 180k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Malaysia 310

312 KUALA LUMPUR BANKING & FINANCIAL SERVICES MIDDLE & BACK OFFICE ROLE PERMANENT SALARY PER ANNUM MYR (RM) 4-7 YRS' EXP 8-12 YRS' EXP 12+ YRS' EXP Banking Operations Cash Management k k k k 144k+ 156k+ Treasury Operations k k k k 144k+ 156k+ Credit Administration 54-96k 54-96k k k 120k+ 120k+ Finance Strategic Planning & Analysis k k k k 222k+ 222k+ Financial Control & Tax k k k k 222k+ 222k+ Fund Accounting k k k k 180k+ 180k+ Insurance Actuarial k k k k 204k+ 204k+ Bancassurance k k k k 215k+ 215k+ Claims k k k k 144k+ 144k+ Insurance Operations k k k k 144k+ 144k+ Underwriting k k k k 144k+ 144k+ Product Development k k k k 180k+ 180k+ Internal Audit Investment Banking/Treasury k k k k 204k+ 204k+ Credit Audit k k k k 198k+ 204k+ Branch/Corporate Services k k k k 186k+ 180k+ Project Management Project/Change Management k k k k 240k+ 240k+ Process Re-engineering k k k k 240k+ 240k+ Risk Management Market Risk k k k k 222k+ 222k+ Operations Risk k k k k 220k+ 220k+ Credit Risk k k k k 216k+ 216k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 311 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

313 KUALA LUMPUR SALARIES HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM MYR (RM) 5-10 YRS' EXP 10+ YRS' EXP PERMANENT SALARY PER ANNUM MYR (RM) HR Director k k k k Compensation & Benefits k k k k Talent Management k k k k HR Business Partner k k k k Organisation Development k k k k HR Manager k k k k Recruitment Specialist k k k k HR Information Systems (HRIS) k k k k Training Specialist k k k k TECHNICAL HEALTHCARE ROLE PERMANENT SALARY PER ANNUM MYR (RM) Medical Affairs Manager k k Market Access Manager k k Clinical Research Manager k k Regulatory Affairs Manager k k QA/QC Manager k k SFE Manager k k Medical Scientific Liaison 60-96k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Malaysia 312

314 KUALA LUMPUR INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM MYR (RM) ERP Consultant - Functional k k Consultant - Technical k k Support Analyst 50-96k k Management/Functional Chief Technology Officer k k IT Director k k Program Manager k k Project Manager k k Service Delivery Manager k k IT Business Analyst k k Software Development & Digital Development/Digital Manager k k Solution Architect k k Test Manager k k Software Engineer/Developer k k Infrastructure & Security Infrastructure Manager k k IT Security Manager k k IT Auditor k k Voice/Network Engineer k k Server/Database Administrator k k IT Sales Sales Director k k Pre-sales Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 313 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

315 KUALA LUMPUR LEGAL & COMPLIANCE ROLE PERMANENT SALARY PER ANNUM MYR (RM) 1-4 YRS' PQE 5-8 YRS' PQE 8+ YRS' PQE Commerce & Industry Manufacturing/Engineering 54-90k 54-90k k k 186k+ 186k+ Pharmaceutical/Chemical 54-90k 54-90k k k 174k+ 174k+ Contracts Manager 48-84k 48-84k k k 156k+ 162k+ FMCG 48-84k 48-84k k k 150k+ 156k+ Company Secretary Group Company Secretary 42-78k 42-78k k k 114k+ 120k+ Assistant Company Secretary 33-60k 36-66k 60-90k 66-96k 90k+ 96k+ Compliance AML/Surveillance 54-78k 58-84k k k 180k+ 186k+ Global Markets 54-84k 54-84k k k 186k+ 186k+ Shariah 48-78k 48-78k k k 180k+ 180k+ Fund/Wealth Management 48-72k 48-72k k k 180k+ 186k+ Retail/Insurance 43-66k 43-66k k k 162k+ 162k+ Financial Services Investment Banking - Global k k k k 192k+ 192k+ Corporate/Transaction Banking 54-90k 54-90k k k 168k+ 172k+ Consumer Banking/Insurance 48-90k 48-90k k k 156k+ 156k+ Private Practice Corporate/M&A 44-96k k k k 162k+ 168k+ Financial Services 44-96k k k k 162k+ 168k+ Intellectual Property 44-90k 46-90k k k 156k+ 156k+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Malaysia 314

316 KUALA LUMPUR SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM MYR (RM) CONSUMER PERMANENT SALARY PER ANNUM MYR (RM) IT&T/INDUSTRIAL General Marketing Managing Director k k k k Sales Director k k k k Marketing Director k k k k Communications Director k k k k Marketing Manager k k k k Communications Manager k k k k Market Research Manager k k k k Trade Marketing Manager k k k k Public Relations Manager k k k k Retail Operations Manager k k k k Sales Manager k k k k Business Development Manager k k k k Brand Manager k k k k Digital Marketing Manager k k k k Account Manager k k k k Customer Service Manager 60-96k k 60-96k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 315 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

317 KUALA LUMPUR SUPPLY CHAIN, PROCUREMENT & ENGINEERING ROLE PERMANENT SALARY PER ANNUM MYR (RM) Procurement Procurement Director k k Regional Procurement Manager k k Category Procurement Manager k k Procurement/Contract Manager k k Supply Chain & Logistics Supply Chain Director k k Supply Chain Manager k k Customer Service Manager k k Logistics Manager/Senior Manager k k Demand Planning Manager k k Production Planning Manager k k Supply Planning Manager k k Supply/Demand Planner k k Engineering Operations Director k k Quality Director k k HSE Director k k Plant Manager k k Project Manager/Senior Manager k k HSE Manager k k Production Manager/Senior Manager k k Continuous Improvement Snr Mgr/Mgr k k Quality Manager/Senior Manager k k New Product Development Snr Mgr/Mgr k k Civil & Infrastructure Engineer k k Project Engineer k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 13 Robert Walters Global Salary Survey 2016 Malaysia 316

318 Singapore HIRING LEVELS REMAINED STABLE ACROSS THE SINGAPORE RECRUITMENT MARKET IN WITH GREATER POLITICAL CERTAINTY FOLLOWING THE GENERAL ELECTION, WE ANTICIPATE GROWING BUSINESS CONFIDENCE AND HIGHER LEVELS OF RECRUITMENT IN INSIGHT The banking sector continued to experience difficulties, feeling the impact of further cost cutting and increased offshoring. Across financial services, uncertainty following the China slowdown meant companies were reluctant to increase their permanent headcount, however, this provided a boost to the contract market. The perception of contracting continued to change in Whilst historically, it has not been seen as a viable career option, we are now seeing highly talented and qualified professionals becoming career contractors in search of a better work-life balance and greater flexibility. While banking and finance specialists had fewer new roles to consider, IT professionals had greater choice, experiencing strong demand for their skills. There was particularly high demand for those with specialist skills in cyber security and e-commerce EXPECTATIONS Continuing 2015 trends, we expect IT to be the most active area of recruitment, with the creation of a large number of new job opportunities. We are also very positive about the contract market in 2016, and expect companies to offer growing numbers of contract roles. We do not anticipate any great rise in salaries in 2016, as inflation rates in Singapore are likely to remain flat. However, there will be niche areas, for instance cyber security, where salaries could increase markedly, possibly by 10-20%, but this will be for job movers, rather than as a result of salary reviews. In a market likely to be short of candidates, employers who are specific about role requirements and the career opportunities on offer, and who provide clear timelines for their interview process, will find it easier to secure the best talent. Hiring teams need to be in agreement about what they are looking for, to avoid sending mixed messages to candidates. It is also imperative that all stakeholders are agreed on salary budget at the beginning of the recruitment process. Demand for Singaporean talent will continue, following the introduction of the Fair Consideration Framework in 2014, which legislated on local employment quotas. There is a strong pool of local accountancy, marketing and HR professionals but it will prove more challenging to fill compliance, cyber security and e-commerce roles. In order to fill these roles, employers are encouraged to continue attracting local domestic talent as well as Singaporean talent returning home from overseas.* Singapore remains a crucial economic hub for Southeast Asia and will continue to be so for the foreseeable future. We therefore anticipate a dynamic recruitment market to match. *Visit for further information on attracting overseas Singaporeans 317 Robert Walters Global Salary Survey 2016

319 Singapore remains a crucial economic hub for Southeast Asia and will continue to be so for the foreseeable future, with a dynamic recruitment market to match. + 4% (AJI) Year-on-year increase in the number of jobs advertised in Singapore in % Year-on-year increase in advertised roles in medical services + 16% (AJI) (AJI) Increase in annual job advertising for IT roles Singapore KEY FINDINGS 82% Overseas Singaporean professionals considering returning home (Returning Asians Survey) With the Singapore general election determined, growing business confidence and higher levels of recruitment are expected in (Whitepaper) TOP REASONS WHY SINGAPOREANS LEAVE THEIR JOBS Limited growth at company Felt undervalued Salaries are expected to remain flat in 2016, though specialists in niche areas, such as cyber security, could expect possible increases between 10-20%. Perception of being underpaid Top factor for finding a new job SALARY INCREMENT (Whitepaper) AJI: Robert Walters Asia Job Index Q v Q Robert Walters Returning Asians Survey 2015, 654 respondents. Whitepaper: Robert Walters Research, Insights from the Exit Process 2014, 803 respondents. Singapore 318

320 Singapore Singapore OVERVIEW ACCOUNTING Accounting and finance recruitment levels remained reasonably buoyant across most areas in The professional services and pharmaceutical industries saw consistent hiring, largely due to the growth of product lines and the expansion of regional headquarters to support the demands of the high-growth economies across Southeast Asia. We witnessed a greater need for junior to mid-level candidates compared to senior professionals, most likely due to the rapid turnover of junior employees. Increased demand for Singaporean professionals has continued following the introduction of the Fair Consideration Framework (where hiring managers need to demonstrate they have considered all Singaporean candidates before looking elsewhere). Over the longer term, diminishing birth rates in Singapore will create larger skills gaps that may have to be filled by overseas candidates. However, in the current environment, Singaporean professionals with international work experience who are willing to travel remain highly sought after. The contract market was very active during 2015, particularly in the pharmaceutical, shipping, commodities and retail sectors, where we saw an increased demand for mid-level professionals who could fill interim positions for projects. We expect this trend to continue into 2016 as employers recognise the value add that contractors can bring to the business. As permanent headcount and budget constraints are anticipated, some organisations will increasingly turn to contract positions with a view to converting them into permanent roles. However, over the next 12 months, we believe employers will face major challenges when hiring junior to mid-level contracting candidates, due to the high turnover of professionals in this area. We expect that specialists in treasury, tax and internal audit will remain highly sought after. For companies searching for these key skill sets to fill permanent roles, a swift and efficient recruitment process is vital. If the hiring process is too drawn out, or the employer fails to convey the compelling career opportunities their company offers, a suitable candidate is likely to opt for a rival who presents a more convincing proposition. Those companies who demonstrate a genuine commitment to training and development, who support flexible working hours, and who offer excellent opportunities to work internationally, will find it easier to attract and retain high-calibre professionals. BANKING & FINANCIAL SERVICES We saw an overall hiring slowdown for product control positions in banks and financial institutions in 2015, with the majority of hires being replacement-based rather than new roles. In addition to this, continued offshoring and cost management measures within banking contributed to reduced demand for accounting and product control candidates. Recruitment by securities and brokerage firms was also subdued, due to a slowdown in growth within both markets, and again, hiring was predominantly for replacement roles. However, some areas fared better. Internal audit recruitment remained active across banks and non-banking financial institutions, following tightened regulatory controls. In particular, compliance audit candidates were in high demand. Professionals within capital markets and insurance were also highly sought after as new entrants joined the market and stricter regulatory requirements came into force. Insurance companies were keen to hire senior finance professionals, especially those with experience in the region. Meanwhile, asset management companies found it difficult to hire professionals with experience in fund accounting. It was particularly challenging to find candidates from hedge fund or private equity backgrounds due to the limited talent pool. During 2016, we expect strong competition among hiring managers for accounting and product control professionals, specifically those with exposure to managing regulatory change. In addition, we expect the shortage of internal audit candidates in compliance, private banking and corporate banking to continue. Within compliance, private banks and asset management firms sought specialists skilled KEY TRENDS In light of the candidate-driven market, hiring teams need to be in agreement about what they are looking for. It is also imperative that all stakeholders are agreed on salary budget at the beginning of the recruitment process. Very strong demand is expected within information and cyber security as companies seek to reduce vulnerability to evolving hacking or breaching mechanisms and threats. While contracting has not historically been seen as a viable career option, we are now seeing highly qualified professionals becoming career contractors in search of a better work-life balance. Business leaders are becoming more demanding of the HR function as they look to HR professionals to produce strategies in support of revenue growth. 319 Robert Walters Global Salary Survey 2016

321 Singapore in financial crime avoidance as well as antimoney-laundering. As these professionals conduct due diligence on their high-net-worth clients (to ensure regulatory adherence) they are critical to operations. This upswing in hiring was followed by a slowdown as headcount budget became more conservative. Companies became more cautious when hiring, which lengthened the recruitment process, making it difficult to maintain candidates interest. Those compliance professionals with proven track records and familiarity with Singapore regulations were popular hiring choices. Local regulatory experience was an exceptionally important prerequisite, as compliance specialists are the key point of contact between regulator and company. For front office roles, recruitment levels remained steady for junior to mid-level candidates across corporate and transaction banking. When it came to senior hires, the majority of banks filled these positions through internal promotions, helping to preserve corporate culture. Competition for experienced Singaporean candidates again remained high due to the Fair Consideration Framework. Hiring managers sought bankers with a background in specific sectors, notably technology, energy, media and telecommunications. Specifically, they were looking for candidates with strong client portfolios who could immediately contribute to existing teams. However, companies struggled to find strong local corporate finance professionals with extensive deal exposure due to a scarcity of talent. We envisage specialists in cash management, trade finance sales and structured trade will continue to see job opportunities due to anticipated growth in these areas. Singaporebased bankers with regional experience will also be required due to the importance of crossborder transactions. Within the corporate governance sector, we saw levels of hiring in compliance surpass those of risk for the first half of However, companies still recruited in key risk areas global events and new regulations have had a major effect on recruitment activity. Higher levels of computer hacking worldwide meant there was an increased focus on data leakage prevention and cyber security, as organisations sought to strengthen their internal risk management culture. Understandably, organisations sought to strengthen those defence roles which sit directly in the front-line of technology and operations functions. Every large and multinational company is looking to mitigate risk wherever they can. However, employers will find it hard to recruit operational risk managers with knowledge of front office controls and a private banking background, as well as credit risk managers with financial institutions coverage. Those with sufficient credentials in these areas are in short supply and companies are considering overseas applicants for niche areas, including quantitative risk. HUMAN RESOURCES Demand for permanent HR professionals remained fairly robust in 2015, particularly for junior to mid-level roles. More candidates considered contract roles during the year and hiring managers were often able to access this flexible pool of talent, particularly at the junior to mid-levels. Three key market observations influenced recruitment as 2015 progressed. The first saw a number of companies offshoring HR services to lower-cost locations outside of Singapore. Transactional HR processes were the focus of outsourcing, for example: payroll administration, benefits administration, training support and general administration. We anticipate this trend will continue in The second trend witnessed organisations and business leaders become more demanding of the HR function as they looked towards HR professionals to produce strategies in support of revenue growth. Candidates with the ability to translate HR strategies into measurable outcomes across a business will therefore be highly sought after in Singapore 320

322 Singapore Singapore OVERVIEW HUMAN RESOURCES CONTINUED Change management, problem solving and stakeholder management skills were also required in senior-level HR positions. Despite the move to a business-partnering HR function, a number of restructures and reorganisations resulted in much leaner HR operations. As a result, candidates were still expected to be hands-on, regardless of their seniority in the organisation. While more regional HR roles continued to sit in Singapore, a third trend evolved as more HR roles with Southeast Asia remits emerged. The complexities faced by organisations as they invested in the Asia Pacific region meant a higher level of dedicated support was required, especially from candidates with a strong understanding of local labour laws in each market. We ve observed that candidates perform better in regional HR business partner roles when they have a strong knowledge of employment laws across the region. INFORMATION TECHNOLOGY Demand was relatively strong across financial services for both permanent and contract IT specialists. There were several key drivers of recruitment in For example, extensive overhauls of the technology risk and regulation framework created a greater need for experienced security and technology risk professionals. With more offshoring of IT services than anticipated, high-touch senior delivery professionals (both projects and service delivery) were also in demand. Those who could combine very strong technical and commercial skills were highly sought after. In addition, as organisations sought to minimise their vulnerability to constantly evolving hacking or breaching mechanisms, we witnessed a spike in recruitment for cyber security professionals. We foresee continued demand in this area during 2016 as companies upgrade their technology to improve customer experience. E-commerce has not yet had a profound impact on Southeast Asia the region is undoubtedly playing catch-up with China in this regard. Online business is set to be a key growth area in Singapore and this is reflected in the confidence retailers have shown in strengthening their digital strategies to boost revenues. These efforts have resulted in an increased need for IT professionals skilled in online and digital project delivery, mobile and application development, user experience, service design, big data and marketing analytics. Specialists in these areas will continue to be popular hiring choices in For the short term at least, we anticipate hiring managers will struggle to employ Singaporean candidates across all areas of IT. This is due to the increased salary levels needed to retain highly skilled IT professionals who are in the privileged position of having multiple job offers. In order to safeguard the efficient running of their business and minimise staff turnover, employers are encouraged to ensure top-tier employees receive competitive salary packages. LEGAL In the first half of 2015, recruitment in the legal sector was largely candidate driven, with more roles available than people to fill them. Both law firms and in-house legal teams offered positions for qualified professionals. In general, hiring managers found it tough to recruit the highest quality candidates since those with the required skills and experience were in short supply. Singapore s growing position as an arbitration hub bolstered hiring levels within private practice, and boutique law firms also sought arbitration partners. Local law firms determinedly sought Singapore-qualified lawyers to build existing teams, while their foreign counterparts recruited professionals with the necessary legal experience to expand into new areas such as technology, media and telecommunications. In-house legal teams grew in size during the year and, as a consequence, hiring managers were keen to attract legal professionals with proven track records and familiarity with the Singapore market. Law candidates with data protection expertise were of particular interest to employers following the introduction of the Personal Data Protection Act (PDPA). SALES & MARKETING CONSUMER AND TECHNICAL HEALTHCARE FMCG firms reduced their regional marketing headcount in 2015 as they reworked internal reporting structures to consist primarily of global and local positions. Against this backdrop we saw a reduction in hiring levels. Recruitment within financial services consisted largely of hires in corporate communications. Encouragingly, these were newly-created positions triggered by the growth of wealth management divisions. Pharmaceutical companies focused on the consumer healthcare business in 2015, with new brands entering the retail sector. Some firms also set up their own direct operations, adopting a straight-to-pharmacy distribution model, to enable better supply chain control. This created opportunities for brand, product and marketing managers. In 2016 however, we anticipate relatively flat levels of hiring as companies focus on consolidation, pre and post mergers and acquisition activity. Medical affairs professionals will continue to be in demand though, as companies seek to strengthen their pipeline Outlook With the growing popularity of e-commerce and mobile applications, professionals with strong digital marketing experience are likely to see more job opportunities in We also anticipate increasing demand for candidates with experience in emerging markets as more multinational companies look to expand into Indonesia, Vietnam and Thailand. The most in-demand professionals with regional marketing, local sales and medical affairs experience will command salary rises of 15% when moving roles, and employers will need to offer attractive remuneration packages to secure the best talent. 321 Robert Walters Global Salary Survey 2016

323 Singapore B2B & INDUSTRIAL 2015 saw fairly stable recruitment levels across key B2B sectors, including IT and telecommunications. Across sectors, employers sought professionals with commercial marketing skills and salespeople with the ability to build new business. However, recruitment often proved challenging due to a shortage of candidates with these skill sets Outlook In 2016 we expect the marketing function to be increasingly focused on ROI as companies seek to justify their marketing spend. Marketers with commercial capability are therefore likely to see greater employment opportunities. As a rising number of multinational companies enter the Singapore market, and with a growing demand for local talent following the introduction of the Fair Consideration Framework, we anticipate further pressure on an already limited talent pool in We will also see more companies, in particular within the manufacturing industry, investing in hiring professionals from Vietnam, the Philippines, Indonesia and Thailand in order to localise businesses which are experiencing growth. However, we are likely to see a decrease in recruitment within the oil & gas industry due to the falling prices of crude oil and a corresponding drop in business activity. Moderate salary increases are expected in 2016, averaging 10-12%, due to falling employment levels in oil & gas affecting businesses. SECRETARIAL & SUPPORT We saw high levels of demand for permanent secretarial and support staff in Major restructuring within multinational companies created a steady requirement for personal and executive assistants with experience in supporting multiple departments including marketing, IT and finance. Similarly, the financial services, insurance and legal sectors saw increased hiring levels due to growth and expansion plans. In particular, demand for experienced legal secretaries rose as new global law firms established operations in Singapore. An increasing number of contract hires were made to ensure internal projects within organisations ran seamlessly. Interim specialist executive assistants and team support staff were also in demand to support multiple divisions. However, due to a shortage of language skills, employers experienced difficulties trying to hire bilingual professionals. We expect top-tier executive secretaries and office managers who are able to oversee the running of an office independently, to be highly prized hires in In addition, as more firms encounter strict budgeting and headcount restrictions, team support secretaries with the ability to support whole divisions, as opposed to just one member of senior management, are likely to witness increased opportunities in With many companies restructuring or working on expansion plans, professionals able to support such activity will be in demand. Those with specific experience, such as setting up new offices in Singapore, will be able to command higher salaries. SUPPLY CHAIN & PROCUREMENT The consolidation and reorganisation of the supply chain and procurement functions among multinational companies had a negative impact on permanent recruitment activity in As a result, we saw an increase in opportunities for contract candidates as companies adopted more cautious hiring practices. Professionals experienced in strategic and operational change management, mergers and acquisitions, post-acquisition integrations, and ERP implementation, found it easiest to secure new positions. Recruitment at junior to mid-level was particularly active in the FMCG, healthcare, medical devices and automotive sectors. In comparison, the oil and gas, chemicals and manufacturing industries experienced a dip in hiring activity as multinational companies restructured their supply chain and procurement business units, in order to keep headcount lean. A number of firms established regional logistics hubs and global procurement teams in This created demand for both permanent and contract hires with employers seeking those able to perform dual roles, for instance operational and improvement functions. These supply chain and procurement professionals were required to be adaptable to dynamic business environments and continuous change in strategy and operations. 15% Salary increases anticipated for marketers moving jobs in % Salary rises expected for supply chain specialists changing jobs in % Salary increases anticipated for IT professionals switching jobs in 2016 We anticipate that as supply chain and procurement functions are expected to undergo more consolidation and restructuring, candidates experienced in change and project management will continue to see a steady stream of opportunities in However, these professionals will prove difficult to hire owing to a shortage of suitable talent in the market. Source: Salary Survey 2016 Singapore 322

324 SINGAPORE ACCOUNTING ROLE PERMANENT CONTRACT SALARY PER ANNUM SGD ($) SALARY PER MONTH SGD ($) Finance Chief Financial Officer k k 20k+ 20k+ Finance Director k k 18k k+ Financial Controller k k 13-19k 12-15k Corporate Finance Manager k k 12-18k 14-17k Commercial/FP&A/BP&A Manager k k 14-17k 9-10k Pricing/Bid Manager k k 10-15k 10-15k Shared Services Finance Manager k k 10-15k 10-15k Business Analyst k k 5-8k 6-8k Finance Manager k k 5-8k 5-8k Financial Analyst 60-90k 65-90k 4-8k 4-7k Audit Internal Audit Director k k 18-24k 18-24k Internal Audit Manager k k 7-9k 7-9k Senior Auditor/Auditor k k 5-10k 5-10k Accounting & Taxation Tax Director k k 18-22k 18-22k Tax Manager k k 8-16k 8-16k Group Accountant/Accountant k k 6-9k 7-9k Cost Accountant 60-90k 60-90k 6-10k 6-10k Accounts Executive 39-55k 40-55k 3-4k+ 3-4k+ Treasury Treasury Director k k 14-22k 14-22k Treasury Manager k k 10-15k 10-15k Treasury Analyst k k 5-8k 4-6k NB: Figures are basic salaries and exclude employer's CPF contributions. 323 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

325 SINGAPORE FINANCIAL SERVICES ACCOUNTING & PRODUCT CONTROL ROLE PERMANENT SALARY PER ANNUM SGD ($) Financial Control & Tax ANALYST/ASSOCIATE MANAGER/AVP VP/DIRECTOR Financial Reporting 50-90k 50-90k k k k k+ Regulatory Reporting 50-90k 50-90k k k k k+ Tax Accounting 50-80k 50-80k k k k k+ Management Reporting MIS Reporting 50-90k 50-90k k k k k+ Strategic Planning & Analysis 50-90k 50-90k k k k k+ Revenue & Cost Reporting 50-80k 50-80k k k k k+ Product & Valuations Control Product Control 50-90k 50-90k k k k k+ Valuations Control 50-90k 50-90k k k k k+ Internal Audit Global Markets/Investment Banking 50-80k 50-80k k k k k+ Functions/Compliance 45-80k 45-80k k k k k+ Wealth/Fund Management 45-80k 45-80k k k k k+ Corporate/Transaction Banking 45-75k 45-75k k k k k+ Technology 45-75k 45-75k k k k k+ Consumer/Retail Banking 40-70k 40-70k k k k k+ NB: Figures are basic salaries and exclude employer's CPF contribution. 7 Robert Walters Global Salary Survey 2016 Singapore 324

326 SINGAPORE FINANCIAL SERVICES COMPLIANCE ROLE PERMANENT SALARY PER ANNUM SGD ($) ANALYST/ASSOCIATE MANAGER/AVP VP/DIRECTOR Head of Compliance k k+ AML/Financial Crime 50-90k 50-90k k k k k+ Private Banking 50-90k 50-90k k k k k+ Investment/Fund Management 50-90k 50-80k k k k k+ Control Room/Trade Surveillance 50-90k 50-90k k k k k+ Compliance Advisory/Research 45-90k 50-90k k k k k+ Corporate/Transaction Banking 45-80k 45-90k k k k k+ Investment Banking/Global Markets 50-85k 50-90k k k k k+ Consumer/Retail Banking 45-75k 45-75k k k k k+ Regulatory 50-90k 50-90k k k k k+ Insurance 45-75k 45-75k k k k k+ General/Core Compliance 45-75k 50-75k k k k k+ NB: Figures are basic salaries and exclude employer's CPF contribution. 325 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

327 SINGAPORE FINANCIAL SERVICES FRONT OFFICE ROLE PERMANENT SALARY PER ANNUM SGD ($) Commercial Banking ANALYST ASSOCIATE VP & DIRECTOR Transaction Banking (Sales) 65-85k k k k k k+ Corporate Banking (RM) 65-85k k k k k k+ Financial Institutions (RM) 65-85k k k k k k+ Structured Trade Commodity Finance 60-80k k k k k k+ Transaction Banking (Product) 60-80k 65-90k k k k k+ Investment Banking Corporate Finance/M&A k k k k k k+ Debt/Equity Capital Markets k k k k k k+ Research k k k k k k Global Markets Structuring k k k k k k+ Sales (Fixed Income Equity) k k k k k k+ Treasury Sales 60-90k k k k k k+ Investment Management Portfolio Manager k k k k+ Institutional Sales & Marketing 60-80k 70-90k k k k k+ Research 50-80k 60-90k k k k k+ Private Equity Investment Execution/Origination k k k k+ Investment Execution k k k k k k+ Fintech Sales Account Manager k k k k k k+ Solution Sales (Specialist) k k k k k k+ Desktop Sales (Specialist) 70-90k k k k k k+ NB: Figures are basic salaries and exclude employer's CPF contributions. 9 Robert Walters Global Salary Survey 2016 Singapore 326

328 SINGAPORE FINANCIAL SERVICES OPERATIONS ROLE PERMANENT SALARY PER ANNUM SGD ($) ANALYST/ASSOCIATE MANAGER/AVP VP/DIRECTOR Change Management 55-95k 55-95k k k k k+ Client Onboarding/KYC/AML 50-95k 50-95k k k k k+ Data Specialist 50-95k 50-95k k k k k+ Private Banking 50-90k 50-90k k k k k+ Fund Management/Custody 50-90k 50-90k k k k k+ Client Services 45-85k 45-85k k k k k+ Collateral Management 45-85k 45-85k k k k k+ Corporate/Transactional 40-80k 40-80k k k k k+ Trade Support 45-85k 45-85k k k k k+ Commodities 40-80k 40-80k k k k k+ Investment Banking 40-80k 40-80k k k k k+ Securities/Broking 40-65k 40-65k k k k k+ NB: Figures are basic salaries and exclude employer's CPF contribution. 327 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

329 SINGAPORE FINANCIAL SERVICES RISK ROLE PERMANENT SALARY PER ANNUM SGD ($) Credit Risk MANAGER/AVP VP DIRECTOR Structured Trade/Commodity Finance k k k k 220k+ 220k+ Wholesale/Investment Banking k k k k 200k+ 200k+ Portfolio Risk & Analytics k k k k 200k+ 200k+ Private Banking k k k k 200k+ 200k+ Restructuring k k k k 200k+ 200k+ SME/Consumer k k k k 150k+ 150k+ Market Risk Management/Modelling k k k k 200k+ 200k+ Asset Management/Investment Risk k k k k 180k+ 180k+ Commodities Risk k k k k 200k+ 200k+ Controlling/Reporting k k k k 200k+ 200k+ Operational Risk Business Risk & Assurance k k k k 200k+ 200k+ Operational Risk Management k k k k 200k+ 200k+ Technology Risk k k k k 200k+ 200k+ NB: Figures are basic salaries and exclude employer's CPF contribution. 11 Robert Walters Global Salary Survey 2016 Singapore 328

330 SINGAPORE FINANCIAL SERVICES CONTRACT ROLE CONTRACT SALARY PER MONTH SGD ($) Finance ANALYST/ASSOCIATE MANAGER/AVP VP/DIRECTOR Financial Reporting 5-7k+ 5-7k+ 8-12k 8-12k 13-20k k+ Regulatory Reporting 5-7k+ 5-7k+ 8-12k 8-12k 13-20k k+ Tax 6-8k 6-8k 9-12k+ 9-12k k k+ Strategic Planning & Analysis 5-8k 5-8k 8-12k 8-12k 13-25k k+ MIS Reporting 5-7k 5-7k 8-12k 8-12k 12-18k k+ Revenue & Cost Reporting 5-7k+ 5-7k+ 8-12k 8-12k 12-21k k+ Product Control 5-8k 5-8k 8-13k 8-13k 13-25k k+ Project Management 5-8k 5-8k 8-13k 8-13k 13-25k k+ Business Analysis (Finance/Reg Change) 5-8k 5-8k 8-13k 8-13k 13-21k k+ Operations Fund Management/Custody 5-7k 5-7k 8-11k 8-11k Commodities 3-6k 3-6k 6-11k 6-11k Corporate/Transaction Banking 3-6k 3-6k 6-11k 6-11k Investment Banking 3-6k 3-6k 6-10k 6-10k Private Banking 3-6k 3-6k 6-10k 6-10k Securities/Broking 3-6k 3-6k 6-10k 6-10k Client Onboarding/KYC/AML 4-7k 4-7k 7-12k 7-12k Client Services 3-7k 3-7k 6-12k 6-12k Data Specialist 4-7k 4-7k 7-12k 7-12k Trade Support 3-7k 4-7k 7-12k 7-12k NB: Figures are basic salaries and exclude employer's CPF contribution. Contract rates for Operations VP/Director roles are not applicable. 329 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

331 SINGAPORE HUMAN RESOURCES PERMANENT ROLE PERMANENT SALARY PER ANNUM SGD ($) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Commerce & Industry HR Business Partner k k k k k k+ Organisational Development k k k k k k+ Compensation & Benefits k k k k k k+ HR Generalist k k k k k k+ Training & Development 55-90k 55-90k k k k k+ Recruitment k k k k k k+ HRIS 45-75k 45-75k k k k k+ Mobility 40-80k 40-80k k k k k+ Payroll 40-80k 40-80k k k k k+ Banking & Financial Services HR Business Partner k k k k k k+ Compensation & Benefits k k k k k k+ HR Generalist k k k k k k+ Organisational Development k k k k k k+ Recruitment k k k k k k+ Training & Development k k k k k k+ HRIS 60-80k 60-80k k k k k+ Mobility 45-80k 45-80k k k k k+ Payroll 40-90k 40-90k k k k k+ NB: Figures are basic salaries and exclude employer's CPF contribution. Figures will vary depending on whether the incumbent is holding a regional/global role. 13 Robert Walters Global Salary Survey 2016 Singapore 330

332 SINGAPORE HUMAN RESOURCES CONTRACT ROLE CONTRACT SALARY PER MONTH SGD ($) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Commerce & Industry HR Business Partner 5.5-9k 5.5-9k 9k+ 9k+ 16k+ 16k+ Compensation & Benefits 5-10k 5-10k 10-16k 10-16k 16k+ 16k+ Organisational Development 5-9k 5-9k 9-22k 9-22k 20k+ 20k+ HR Generalist 4-10k 4-9k 9k+ 9k+ 16k+ 16k+ HRIS 4-8k 4-8k 8-11k 8-11k 11k+ 11k+ Mobility 4-6k 4-6k 5-8k 5-8k 8k+ 8k+ Recruitment 4-8k 4-8k 8-11k+ 8-11k+ 11k+ 11k+ Training & Development 4-8k 4-8k 8-15k 8-15k 15k+ 15k+ Payroll 4-6k 4-6k 5-9k 5-9k 8k+ 8k+ Banking & Financial Services Compensation & Benefits 5-10k 5-10k 11-19k 11-19k 19k+ 19k+ HR Generalist/Business Partner 5-10k 5-10k 10-16k 10-16k 16k+ 16k+ Organisational Development 5-9k 5-9k 9-22k 9-22k 22k+ 22k+ Recruitment 5-8k 5-8k k k 12k+ 12k+ Training & Development 4-8k 4-8k 8-15k 8-15k 15k+ 15k+ HRIS 4-8k 4-8k 8-12k 8-12k 11k+ 11k+ Mobility 4-6k 4-6k 6-11k 6-11k 11k+ 11k+ Payroll 4-5.5k 4-5.5k 5-8k 5-8k 8k+ 8k+ NB: Figures are basic salaries and exclude employer's CPF contribution. 331 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

333 SINGAPORE INFORMATION TECHNOLOGY ROLE PERMANENT CONTRACT SALARY PER ANNUM SGD ($) SALARY PER MONTH SGD ($) Management Chief Technology Officer k k IT Director k k 14-25k 14-25k Projects Program Manager k k 15-25k 15-25k Project Manager k k 8-18k 8-18k Business Analyst k k 6-15k 6-15k Applications Software Architect k k 12-25k 12-25k Development Manager k k 10-17k 10-17k Application Support Manager k k 8-14k 8-14k ERP Consultant Functional k k 8-12k 8-12k Developer k k 5-12k 5-12k Application Support Analyst/Tester k k 5-12k 5-12k Infrastructure Pre-sales Consultant k k 12-20k 12-20k Service Delivery Manager k k 10-16k 10-16k IT Manager k k 9-15k 9-15k Database Administrator k k 7-16k 7-16k Network Engineer/Systems Admin/Help Desk k k 6-11k 6-11k Security Cyber Security Specialist k k 9-21k 9-21k Application Security Specialist k k 10-19k 10-19k Infrastructure Security Specialist k k 10-19k 10-19k NB: Figures are basic salaries and exclude employer's CPF contributions. 15 Robert Walters Global Salary Survey 2016 Singapore 332

334 SINGAPORE LEGAL ROLE PERMANENT SALARY PER ANNUM SGD ($) 1-3 YRS' PQE 4-7 YRS' PQE 8+ YRS' PQE Private Practice Arbitration/Dispute Resolution k k k k k k+ Banking/Finance k k k k k k+ Corporate/M&A k k k k k k+ Energy k k k k k k+ Intellectual Property k k k k k k+ Shipping/Aviation k k k k k k+ Paralegal 40-50k 40-50k 50-90k 50-90k 90k+ 90k+ Legal Counsel - Commerce Commodities k k k k k k+ Technology Media Telecoms k k k k k k+ Contracts Manager k k k k k k+ Pharmaceutical/Healthcare k k k k k k+ Manufacturing/Engineering/Oil & Gas k k k k k k+ FMCG/Retail k k k k k k+ Company Secretary 50-75k 50-75k k k k k+ Paralegal 35-50k 35-50k 50-80k 50-80k 80k+ 80k+ Legal Counsel - Financial Services Global Markets k k k k k k+ Investment Banking k k k k k k+ Private Banking/Wealth Management k k k k k k+ Fund/Asset Management 70-90k 70-90k k k k k+ Corporate/Transaction Banking k k k k k k+ Consumer Banking/Insurance k k k k k k+ ISDA Negotiator 60-80k 60-80k k k k k+ NB: Figures are basic salaries and exclude employer's CPF contributions. 333 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

335 SINGAPORE SALES & MARKETING CONSUMER & TECHNICAL HEALTHCARE ROLE PERMANENT SALARY PER ANNUM SGD ($) Business Development Sales & Marketing Director k k+ Sales Director k k+ Account Director k k+ Sales Manager k k Business Development Manager k k Key Account Manager k k Marketing Marketing Director k k+ Market Research Director k k+ Marketing Manager k k+ Brand Manager k k Market Research Manager k k+ Retail Operations Manager k k Visual Merchandising Manager k k Product Marketing Manager k k Trade Marketing Manager k k PR & Communications Corporate Affairs Director k k+ Public Relations Director k k+ Digital Marketing Manager k k Corporate Communications Manager k k+ Public Relations Manager k k NB: Figures are basic salaries and exclude employer's CPF contribution. 17 Robert Walters Global Salary Survey 2016 Singapore 334

336 SINGAPORE SALES & MARKETING CONSUMER & TECHNICAL HEALTHCARE ROLE PERMANENT SALARY PER ANNUM SGD ($) Technical Healthcare Medical Affairs Director k k+ Business Unit Director k k+ Marketing Director k k+ Regulatory Affairs Director k k+ Sales Director k k+ Clinical Research Director k k+ Medical Affairs Manager k k+ Marketing Manager k k+ Market Access Manager k k+ Sales Manager k k+ Commercial Excellence Manager k k Product Manager k k+ Clinical Research Manager k k+ Regulatory Affairs Manager k k+ Medical Science Liaison 60-80k 60-80k NB: Figures are basic salaries and exclude employer's CPF contribution. 335 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

337 SINGAPORE SALES & MARKETING B2B & INDUSTRIAL ROLE PERMANENT SALARY PER ANNUM SGD ($) Sales General Manager/Managing Director k k Sales Director k k Senior Business Development Manager k k Account Director k k+ Aftersales Manager k k Business Development Manager k k Pricing Manager k k Key Account Manager k k Sales Manager k k Sales Engineer 40-80k 40-80k Marketing Marketing Director k k+ Head of Online Marketing k k Marketing Research Manager k k Strategic Marketing Manager k k Senior Brand Manager k k Marketing Manager k k Product Marketing Manager k k Brand Manager k k Online/Digital Marketing Manager k k Digital Marketing Specialist 50-80k 50-80k PR & Communications Corporate Communications Director k k Public Relations Director k k+ Corporate Communications Manager k k Public Relations Manager k k 19 Robert Walters Global Salary Survey 2016 NB: Figures are basic salaries and exclude employer's CPF contribution. Figures will vary depending on whether the incumbent is holding a local/regional/global role. The above listed positions are also available on a contract basis of which the monthly rates will be pro-rated against the annual salary of permanent roles. Singapore 336

338 SINGAPORE SECRETARIAL & SUPPORT ROLE PERMANENT CONTRACT SALARY PER ANNUM SGD ($) SALARY PER MONTH SGD ($) Secretarial Investment Banking Secretary 66-84k 60-84k 6-10k 5-7k Personal Assistant 60-84k 60-84k 5-8k 5-8k Confidential Secretary 48-72k 60-78k 5-8k 5-6.5k Senior Secretary 60-78k 60-78k 6-9k 6-9k Trading Floor Secretary 60-72k 60-78k 5-8k 5-6.5k Executive Assistant 48-72k 48-72k 4-10k 4-10k Legal Secretary 48-72k 48-72k 4-7k+ 4-10k+ Team Secretary 54-66k 48-66k 3.5-8k 3.5-6k Business Support Office Manager k k 6-11k+ 6-11k+ Call Centre Manager 48-72k 48-72k 4-6k 4-6k Project Co-ordinator 48-72k 48-72k 5-8k 5-8k Administrator 36-48k 36-48k 3-5k 3-5k Receptionist 24-42k 30-48k 2.5-4k k+ Customer Service Representative 24-36k 24-36k 3-5k 3-5k Data Entry Clerk 18-22k 18-22k 3-4k 3-4k NB: Figures are basic salaries and exclude employer's CPF contribution. 337 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

339 SINGAPORE SUPPLY CHAIN & PROCUREMENT ROLE PERMANENT CONTRACT SALARY PER ANNUM SGD ($) SALARY PER MONTH SGD ($) Procurement Head of Global Sourcing 300k+ 270k+ 25k+ 25k+ Regional Procurement Director k k 20-25k k Strategic Sourcing Manager k k 13-21k+ 9-13k+ Regional Procurement Manager k k 6-15k+ 8-12k+ Indirect Spend/Category Manager k k 11-20k+ 8-10k+ Direct Spend/Category Manager k k 10-15k 8-10k Procurement Executive 40-60k 40-60k 3-5k 3-5k Supply Chain & Logistics Supply Chain Director k k k k+ Customer Service & Logistics Director k k 15-25k k+ Trade Compliance k k 12-20k k+ Project Manager k k 8-18k+ 8-15k+ Operations Manager k k 7-10k+ 7-10k+ Senior Customer Service Manager k k 9-12k+ 9-12k+ Regional Logistics Manager k k 7-11k+ 7-11k+ Planning Manager k k 8-12k+ 8-12k+ Supply Chain Manager k k 6-10k+ 6-10k+ Facilities Manager k k 6-10k 6-10k Supply Chain Consultant k k 7-13k+ 7-11k+ Customer Service Manager 60-90k 60-90k 5-9k+ 5-9k+ Planner 60-90k 60-90k 6-8k+ 5-8k+ Customer Service Executive 42-60k 40-60k 3-5k 3-5k NB: Figures are basic salaries and exclude employer's CPF contributions. 21 Robert Walters Global Salary Survey 2016 Singapore 338

340 South Korea THE STRUCTURE OF THE SOUTH KOREAN JOBS MARKET HAS CHANGED SIGNIFICANTLY IN RECENT YEARS AS THE ENTRY OF MAJOR GLOBAL ORGANISATIONS HAS PLACED NEW DEMANDS ON THE LOCAL TALENT POOL. The dominance of hiring by foreign firms grew strongly in 2015 as subdued economic performance restricted the recruitment activities of Korean companies INSIGHT A number of international legal and insurance firms, only recently allowed access to the country by new trade agreements, arrived in South Korea during This meant that professionals in both these areas were highly sought after. Recruitment activity was also strong in the hightech sector during the year. The country has the world s highest penetration of emerging mobile and digital technologies, driving high levels of demand for suitably qualified and experienced professionals EXPECTATIONS Increased hiring by international and high-tech firms is likely to continue in 2016, with several global companies planning to enter the Korean market during the year. In particular, companies that have already achieved success in China and Japan see Korea as their next development priority in Asia. We anticipate that demand will be especially high for bilingual actuaries, as the increasing number of insurance companies will require fluency in Korean and English. However, suitably qualified professionals will be increasingly hard to find. Korea has the world s highest penetration of smartphone ownership, creating significant m-commerce potential for companies. As a result, candidates with proven digital marketing experience will be in high demand from mobile app and web businesses. Companies in the gaming sector are likely to face particular difficulties in attracting proven developers, due to high levels of competition and a scarcity of talent. As competition for the most in-demand professionals intensifies, skilled HR practitioners with specific recruitment expertise will be highly sought after. Hiring managers will be particularly keen to find professionals who can prove their ability to build relationships in order to attract the strongest candidates. With more international companies entering Korea, we expect the significant salary increases that job movers have enjoyed in recent years to continue. Companies will also fight to retain their best employees; non-movers will receive annual rises of up to 10%. Job titles are also very important in Korea, so we recommend that employers consider using promotion as a key aspect of their retention strategies. 339 Robert Walters Global Salary Survey 2016

341 South Korea OVERVIEW South Korea BANKING & FINANCIAL SERVICES Several Asian retail banks have entered Korea in recent years, and we expect more entrants in The international investment banking sector will remain flat however, as major US and European institutions continue to act cautiously following the global financial crisis of 2008/09. International insurance companies, on the other hand, will invest in Korea throughout FINANCE & ACCOUNTING Foreign companies enlarging their manufacturing capabilities in Korea had increased demand for professionals with cost accounting experience, which we expect to continue in Such organisations will also be aiming to fill value-add, financial analysis and business partnering positions, and candidates can expect salary increases of 10-15%; significantly higher than professionals with traditional accounting experience only. HUMAN RESOURCES In the past, the HR profession in Korea has largely focused on administration. Increasingly, the emphasis is on forging partnerships with other areas of the business. With growing candidate shortages we anticipate that referral and incentive schemes, which reward employees for recommending a successful candidate, will become increasingly common. HR professionals who already have proven experience and training in improving recruitment processes and staff retention will command premium salaries. Trade unions are exceptionally powerful players in Korean industrial relations, and HR professionals with the ability to negotiate effectively and build constructive relationships with the unions, will have increasing value in INFORMATION TECHNOLOGY There were wide variations in hiring levels across the many sub-sectors of the technology industry. There was little demand in 2015 from hardware vendors, for example, and in the absence of major new product launches we expect little change to this situation during However, software applications salespeople will be popular hiring choices, particularly those with sector or client-specific experience. Demand will be strongest for professionals able to create and manage direct relationships with specific industry sectors and major corporates, such as Korea s electronics giants. Business development professionals with sales experience in the mobile advertising or applications areas will also continue to be highly sought after. The most favoured will have a proven track record of increasing sales for gaming companies and other app publishers. Alongside Japan, South Korea is one of the world s two most active markets for mobile and online gaming over 90% of ios and Google Play revenue in the country comes from games. As a result of this immense popularity, we expect that competition for successful developers will be intense in 2016, driving salaries significantly higher as the year progresses. SALES & MARKETING CONSUMER & RETAIL Korea s shifting emphasis towards digital marketing will continue in 2016, meaning that professionals with online and mobile marketing experience will be in greater demand than those with traditional marketing backgrounds. However, these specialists are in short supply and we expect to see salaries inflate in this area. Due to the popularity of Korea as a destination for Chinese tourists, Chinese-speaking retail store managers will also be in demand, although we anticipate that hiring managers will struggle to find suitable candidates for such specific roles. CHEMICAL The recent trend for international chemical companies setting up research and development centres in Korea will continue to create a buoyant recruitment market across the sector. Korean professionals are highly valued to manage the Asia-Pacific region for such businesses, due to the country s high educational standards, and we expect senior managers will be particularly sought after in INDUSTRIAL Major industrial and automotive companies from the US and Europe are opening plants and offices in Korea, increasing hiring activity for first and second-tier roles such as country managers, regional sales managers and technical sales executives in Replacement activity at middle management levels will also be prevalent among industrial companies. South Korea 340

342 SEOUL ACCOUNTING & FINANCE BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM KRW ( ) ANALYST MANAGER DIRECTOR Compliance 45-55m 50-55m m m m m Product Control 45-60m 45-60m 75-95m 75-95m m m Market/Credit/Operations Risk 50-70m 50-70m 70-85m 70-85m m m Financial Control & Tax 50-65m 50-65m 70-95m 70-95m m m Settlements & Processing 45-60m 45-60m 65-85m 70-85m m m Management Reporting 45-65m 45-65m 65-85m 70-85m m m Middle Office & Trade Support 45-65m 45-65m 60-80m 60-80m m m Actuary 55-75m 65-80m 85-95m m m m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 341 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

343 SEOUL ACCOUNTING & FINANCE COMMERCE & INDUSTRY ROLE PERMANENT SALARY PER ANNUM KRW ( ) CFO m m+ FD (Large Organisation) m m FD (Small/Medium Organisation) m m FC (Large Organisation) m m FC (Small/Medium Organisation) 75-85m 80-90m Internal Audit Manager 65-85m 70-90m Tax Manager 60-80m 65-80m Finance Manager 60-75m 70-80m Financial Planning/Analysis Manager 60-80m 70-85m Treasury Manager 55-70m 60-75m Internal Auditor 45-65m 50-70m Credit Manager 45-60m 50-65m Senior Financial Analyst 60-70m 70-80m Senior Financial Accountant 50-60m 55-60m Financial Analyst 50-60m 55-70m Tax Accountant 45-55m 50-60m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 South Korea 342

344 SEOUL HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM KRW ( ) HR Director/Head m m HR Manager 65-90m 70-95m Recruitment/Staffing Manager 55-70m 60-80m Compensation & Benefits Manager 55-70m 55-70m HR Senior Generalist 40-60m 45-65m HR Specialist 45-50m 45-55m HR Generalist 35-40m 35-40m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 343 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

345 SEOUL INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM KRW ( ) Solution Architect m m+ Cloud Architect m m+ Program Manager 60-90m 65-90m Pre-sales Engineer 60-90m 65-90m Systems Engineer 60-90m 65-90m Project Manager 60-90m 65-90m Customer Service Representative 40-70m 45-75m Technical Support Representative 40-70m 45-75m Post-sales Support Representative 40-70m 45-75m Software Developer 40-60m 50-75m Technical Support 40-60m 45-65m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 South Korea 344

346 SEOUL SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM KRW ( ) Consumer & Retail Country Head - Small/Medium Organisation m m Sales Director m m National Key Account Manager m m Retail Manager m m Marketing Director m m Marketing Manager 65-95m 65-95m Digital Marketing Manager 65-85m 70-95m Product Manager 60-80m 60-80m Merchandising Manager 40-60m 45-60m Chemical Country Manager m m Sales and Marketing Director m m Sales and Marketing Manager m m R&D Director m m R&D Manager m m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 345 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

347 SEOUL SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM KRW ( ) Technology Country Head - Medium Organisation m m+ Country Head - Small Organisation m m+ Sales Director m m+ Sales Manager m m Major Account Manager 70-90m 75-95m Account Manager 40-60m 50-70m Business Development Manager 50-80m 55-85m Marketing Director m m+ Channel Manager 40-60m 50-70m Industrial Country Head - Medium Organisation m m Country Head - Small Organisation m m Sales Director m m Sales/Branch Manager m m Business Development Manager m m Application Development Specialist m m Sales Engineer m m Account Manager 70-90m 73-95m Sales Support Representative 70-90m 73-95m Marketing Manager 54-65m 55-67m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 South Korea 346

348 Taiwan DESPITE SIGNS OF SOFTENING IN TAIWAN S ECONOMY DURING 2015, AND MODEST GROWTH FORECASTS FOR 2016, THE TAIWANESE RECRUITMENT MARKET REMAINED BUOYANT ACROSS BANKING, FINANCE, INFORMATION TECHNOLOGY AND SALES AND MARKETING INSIGHT A tougher global economic situation led to a dip in Taiwan s export trading which directly impacted its GDP growth in quarters two and three. However, outside of the semiconductor industry, overall hiring volumes remained largely unaffected, and there were pockets of growth in key areas of the market EXPECTATIONS Although economic conditions may continue to be challenging, Taiwan will remain a candidateshort market in 2016, particularly for areas that require niche expertise. We anticipate high demand for skilled brand managers and professionals with e-commerce experience as more FMCG and retail businesses enter the market. Competition for talent will also be intense in the IT sector, particularly for web developers and software engineers specialising in Java and ios. 347 Robert Walters Global Salary Survey 2016 As companies focus on building highperforming teams, candidates with a proven track record of performance will remain in strongest demand. Salary increments will remain fairly consistent with the last four years and we expect an average increase of 10-15% for professionals changing jobs, rising to 18-22% for more senior positions. In areas where candidate shortages are most acute, we recommend that hiring managers consider candidates who are less experienced but have strong growth potential and develop their capabilities internally. Companies should also strengthen their employer brand to attract the industry s best talent. ACCOUNTING & FINANCE As market conditions remain challenging, the finance function is playing an increasingly important role in helping to improve business efficiency and dealing with more complex issues such as compliance. Due to rising expectations of the finance function, hiring managers will actively seek candidates who can add value across the business, complementing their solid financial expertise with the ability to act as business partners to colleagues in areas such as HR and systems implementation. Succession planning is another emerging priority for companies. Mid-level candidates with strong communication skills and business acumen will be much sought after in 2016 as organisations seek to build a pool of senior strategic managers and leaders of the future. As the demand for these skilled individuals outstrips supply, we recommend hiring managers take a flexible approach when setting out their hiring requirements in 2016 and focus on the transferable skills and growth potential of candidates. BANKING & FINANCIAL SERVICES In common with most markets across the world, compliance, risk management and control will continue to be dominant themes driving recruitment priorities across Taiwan s banking and financial services industry. Apart from increasing the need for compliance, internal audit and legal professionals, the tightening regulatory landscape has also created demand for experienced product marketing specialists, as banks and financial services firms ensure that their marketing activities comply with more stringent regulation. Regulatory authorities are also requiring asset management companies to implement

349 Taiwan OVERVIEW Taiwan stronger compliance measures, resulting in continuing demand across the middle and back office throughout 2016, especially for senior candidates. INFORMATION TECHNOLOGY As mobile devices continue to develop, the shift in demand from hardware to software skills will intensify in Web developers, as well as Java and ios specialists, will be particularly sought after. We also anticipate consistently strong demand for candidates to fill R&D and software engineering roles as businesses seek to capitalise on Taiwan s strong pool of technology talent. Prospects for many niche sectors are also positive for the year ahead. We expect the current significant levels of recruitment at medium-sized technology employers, including Taiwanese companies and international businesses, to continue in However, competition for candidates who have already proven their worth in a commercial environment will be fierce, particularly for skilled software engineers. Employers who can effectively promote attractive long-term career prospects will gain a distinct advantage in attracting and retaining the talent they need. SALES & MARKETING major recruitment focus for many companies in In particular, hiring managers will increasingly seek individuals with proven digital marketing experience as competition intensifies in the e-commerce space. On the sales front, hiring demands will be largely discipline-specific. FMCG recruitment volumes were robust in 2015; we therefore anticipate that candidates with a track record of success will continue to be key hiring targets. We also expect to see growth in several sectors in the consumer space, driven by factors such as new entrants in the cosmetics market and the continued expansion of fast-fashion retailers. Luxury brands have faced tougher market conditions in 2015 and were more subdued in their overall levels of hiring. However, store managers and sales professionals with experience working with high-net-worth individuals will be key hiring priorities for the foreseeable future. Candidates with strong interpersonal skills and English language capabilities will also continue to be highly sought after. Overall, we recommend that employers take a more proactive approach to recruitment than in the past, seeking to identify and build relationships with their industry s most talented sales and marketing professionals to develop a pipeline of candidates. Although economic conditions may continue to be challenging, Taiwan will remain a candidate-short market in 2016, particularly for areas that require niche expertise. As a result, job movers can expect to receive 10-15% salary increments. Attracting experienced and skilled sales and marketing professionals will continue to be a KEY TRENDS With growing candidate shortages, companies should focus on strengthening their employer brand to attract the best talent in the market. Attracting talented marketing professionals will continue to be a major recruitment focus for many companies in 2016, with high demand for digital and e-commerce skills particularly across the FMCG and retail sectors. Prospects for the IT and technology industries remain strong with a high demand for R&D specialists, software engineers and web developers. Accounting and finance professionals with solid financial expertise and commercial aptitude to help improve business efficiency will be highly sought after. Taiwan 348

350 TAIPEI ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM TWD ($) Commerce & Industry Chief Financial Officer m m+ Finance Director m m+ Finance Manager m m+ Controlling Manager m m FP&A Manager m m Pricing Manager m m Cost Accounting Manager m m Internal Audit Manager m m Tax Director m m Tax Manager m m Financial Analyst 600k m 600k - 1.5m Accounting Manager 840k m 840k - 1.8m Accountant 500k m 500k - 1.1m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 349 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

351 TAIPEI BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM TWD ($) 1-4 YRS' EXP 5-8 YRS' EXP 8+ YRS' EXP Front Office Investment Consultant k k m m 1.4m+ 1.45m+ RM* - Corporate Banking k k 900k - 1.4m m m m+ RM* - Financial Institutions k k 950k m m m m+ RM* - Retail Banking k k 750k - 1.1m 800k - 1.1m m m Sales - Transaction Banking k k m m m m Back Office AML/Financial Crime k 900k - 1.1m m m m m Compliance k 900k - 1.1m m m m m Financial Reporting k k 900k - 1.3m 900k - 1.3m m m Human Resources k k 900k - 1.3m m m m Internal Audit k k 800k - 1.1m 900k - 1.2m m m Legal k k m m 2.7m+ 2.7m+ Risk k k m m 1.8m+ 2.0m+ Operation/KYC k k m m m m+ Asset Management Client Services k k 900k - 1.3m 900k - 1.3m m m Compliance m m m m m m Internal Audit m m m m m m Legal m m m m m m Sales 900k - 1.2m 900k - 1.1m m m m m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. RM* = Relationship Manager 7 Robert Walters Global Salary Survey 2016 Taiwan 350

352 TAIPEI INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM TWD ($) Electrical/Electronic Manufacturer Engineering Manager m m Product and Program Manager m m Senior Hardware Engineer m m Senior Software Engineer m m Semiconductor/IC Design House Sales Director m m Product Marketing Manager m m Senior ASIC Engineer m m Senior Firmware Engineer m m IT Solution Account Manager m m Marketing Manager m m Sales Engineer m m Software Vendor Java Engineer m m Web Developer m m Application Developer m m QA Manager m m Project Manager m m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 351 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

353 TAIPEI SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM TWD ($) FMCG Commercial Head m m Sales Director m m Channel Sales Manager m m Marketing Director m m Marketing Manager m m Brand Manager m m Trade Marketing Manager m m Key Account Manager m m E-commerce Manager m m Retail Cosmetics Brand General Manager m m Product Manager m m Sales Manager m m Marketing Manager m m E-commerce Manager m m Luxury General Manager m m Retail Head m m Boutique Manager m m Marketing Manager m m PR & Communications Manager m m Internet Country Manager m m Sales Manager m m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Taiwan 352

354 Thailand IT WAS A TRANSITIONAL YEAR FOR THAILAND IN 2015 AS COMPANIES FOCUSED ON DRIVING DOWN COSTS DUE TO THE GENERAL SLOWDOWN ACROSS SOUTH- EAST ASIA, HOWEVER RECRUITMENT WILL REMAIN BUOYANT IN INSIGHT While hiring activity continued to grow in 2015, the rate of recruitment was slower than in Political instability and concerns about a regional economic slowdown led organisations to take a cautious approach to hiring. However, with unemployment below 1%, the market remained candidate driven with considerable demand across all sectors. Those skilled in niche areas, particularly compliance, software development, demand planning and digital marketing, were able to command a salary increase of around 30% when changing roles. The highest increase of hiring activity was seen in Thai construction driven by government investments designed to stimulate the economy. Banking and financial services recruitment levels were also significant due to a surge in mergers, acquisitions and corporate restructurings, which increased demand for banks to help companies structure their finances EXPECTATIONS The economic forecast for 2016 looks brighter, with hiring managers adopting a careful, but positive, outlook towards Thailand s growth and development. However, 2016 will still be a transitional year for Thailand as companies focus on driving down costs due to the general slowdown across Southeast Asia. It s likely that the manufacturing industry will be particularly impacted by China s economic deceleration. Despite these economic concerns, hiring levels will remain similar to 2015 for mid to senior-level professionals in multinational corporations. Candidates with good English language skills, experience of working in multinational corporations, strong business acumen and people management skills will be most in demand. They will be able to command salary increases of 15-25% when changing roles, rising to around 30% for the most exceptional talent. Those staying in their current roles will see average salary increments of 5-7%. Over the long-term, higher salary increases, in our view, may well be unsustainable, particularly in the context of Thailand s low inflation. With jobseekers able to take their pick of the best roles, it will remain important for employers to provide clear career progression plans, as this is the main driver of employee retention in Thailand. To secure the best candidates, we also recommend that hiring managers offer competitive rewards and benefits, while flexible working and an attractive work-life balance will create further incentives. 353 Robert Walters Global Salary Survey 2016

355 As recruitment remains candidate driven in 2016, jobseekers will be able to take their pick of the best roles. It is important for employers to provide clear career development plans, as this is the main driver of employee retention in Thailand. KEY FINDINGS 82% 32% Thai professionals considering a move back home (Returning Asians Survey) Employers who would offer overseas experienced Thai professionals a higher salary (Returning Asians Survey) Thailand TOP FOREIGN DIRECT INVESTMENT COUNTRIES IN THAILAND After a transitional year in 2015, the economic outlook in Thailand for 2016 appears cautiously optimistic, despite a general slowdown in Southeast Asia. CHINA JAPAN Candidates with multinational company experience, good English language skills and management expertise can expect salary increases of 15-25% when changing roles. (Whitepaper) WHAT THAI PROFESSIONALS WANT Good remuneration Career development Work-life balance Robert Walters Returning Asians Survey 2015, 654 respondents Whitepaper: Robert Walters Research, Insights from the Exit Process 2014, 803 respondents Thailand 354

356 Thailand Thailand OVERVIEW ACCOUNTING & FINANCE In the first half of 2015 companies sought to optimise their structures and streamline processes, which required full teams in place. The majority of hiring was therefore focused on replacement roles. Towards the end of the year, a number of businesses expanded their operations and increased headcount in accounting and finance, creating a spike in industry-wide demand. Professionals with international experience and the ability to manage complex projects were especially sought after. Those candidates experienced in strategic business development, financial planning and treasury, had a particular advantage in securing new positions. Hiring managers also sought accounting and finance professionals with strong business acumen who were able to play a business partnering role and understand how to add value from a financial perspective. In 2016, employers will continue to face challenges recruiting candidates with strong technical, people management and English language skills. In addition, these professionals will be required to be deadline focused, commercially savvy and adaptable to dynamic work environments. Attracting such experienced talent is likely to be difficult, as these candidates tend to be more selective in their career moves. Accounting and finance professionals in Thailand are primarily driven by recognition for their work accomplishments, clear career progression, and competitive compensation and benefits packages. We recommend that hiring managers tailor their retention strategies with these factors in mind to keep employees motivated and engaged in As employers strive to retain top talent, we have also seen an increase in counter-offers, which we believe will continue in BANKING & FINANCIAL SERVICES In the first quarter of 2015, hiring activity in banking and financial services slowed as banks focused on building their recruitment strategy and aligning their budgets for the coming year. As the year progressed, we saw more opportunities for relationship managers with business development and credit analysis skills. This demand was driven primarily by new international banks looking to grow in Thailand, as well as a strategic merger between a Thai bank and a global bank. Candidates were required to drive revenue and strengthen these organisations presence in Thailand. In addition, banks sought strategy specialists to expand their operations across the region and help develop new markets. Investment bankers with experience in mergers & acquisitions, modelling & valuation, and due diligence were in particular demand to support the rising number of infrastructure projects in Thailand. Within the back and middle office banking functions, the appetite for finance and corporate governance professionals within internal audit, risk and compliance remained strong and we anticipate this demand will continue in 2016 with salary increases for job movers reaching 30% and above for the total compensation package. At all levels of seniority, compliance specialists with anti-money-laundering, regulations and risk experience were also highly sought after as a result of more stringent requirements introduced by the Bank of Thailand. Again, we expect this requirement to persist in In 2016, fund managers skilled in fixed income will be especially difficult to hire due to the limited talent pool in Thailand and the prerequisite for candidates to have a strong command of English. Salary increases for job movers in 2016 are likely to average 20-25%. HUMAN RESOURCES The recruitment of HR professionals in the first half of 2015 remained strong as companies increasingly recognised the importance of HR functions. Recruitment and retention became a key priority and professionals skilled in business partnering, organisational development, learning & development, and compensation & benefits were highly sought after. Demand was particularly notable for HR candidates experienced in both talent and performance management. Professionals with the ability to partner with line managers and implement talent development strategies were a primary requirement, and we also saw increasing demand for HR professionals who could assist business heads in driving performance. To retain top HR employees, companies focused on developing clear career paths and opening more channels of communication with their employees. KEY TRENDS In 2016, employers will continue to face challenges finding candidates with strong technical, people management and English language skills. Businesses are likely to continue outsourcing their operational HR functions to a third-party firm or shared services centre. Hiring within mobile commerce dominated the market in 2015 as companies strove to attract Thailand s growing mobile consumers. We anticipate this will continue in 2016 as organisations maintain their focus on growing digital platforms. We expect employers to seek sales engineers, general managers and marketing managers, with a combination of industry experience, product knowledge and leadership skills, to build strong sales and marketing teams. 355 Robert Walters Global Salary Survey 2016

357 Thailand Throughout the year, a number of businesses began outsourcing their operational HR functions to a third-party firm or shared services centre and this is likely to continue in Some HR professionals viewed this as an opportunity and showed keen interest in working as a consultant on a project basis. This was particularly evident in niche functions where securing a permanent candidate was challenging, for example compensation and benefits professionals at a strategic level. In 2016, we anticipate that HR business partners with expertise in HR management and development will continue to be in high demand, due to the limited talent pool of candidates in this specialist area. Hiring managers will also face challenges attracting HR specialists experienced in compensation & benefits, talent development and performance management. This is a consequence of the high salaries these professionals typically command, meaning companies must pay a premium for quality candidates. To attract and retain HR professionals, businesses are advised to offer clear career paths, skill development programmes, strategic business partnering and stakeholder engagement opportunities. INFORMATION TECHNOLOGY In 2015, Thailand s IT industry saw an acute shortage of talent due to a limited talent pool, with software developers, project managers and enterprise resource planning (ERP) specialists in particular demand. To compensate for this skills gap, companies recruited foreign talent to fill these roles while also training local IT professionals internally as part of their succession planning strategy. Mobile commerce recruitment dominated the market, with application developers and programmers especially sought after as companies strove to attract Thailand s growing mobile consumers. We anticipate this demand will continue as organisations maintain their focus on growing digital platforms. The e-commerce sector experienced similarly significant growth as debit cards, smartphones and internet broadband networks grew in popularity. Therefore, IT professionals able to adapt to this fast-growing market saw an increase in job opportunities. Throughout the year, we saw a growing trend of skilled ERP professionals moving from permanent roles to specialist freelance or contract positions. We also noted a continued growth in demand for IT talent with niche skills to fuel the fast-growing e-commerce, animation, gaming and new media industries in Southeast Asia. We expect this trend to continue in 2016, with experienced software developers presenting a particular challenge to hire as demand exceeds supply. ERP consultants and IT project managers at the mid to senior management level with industry-specific knowledge and bilingual language skills will be equally sought after. Specialist roles in niche areas, especially cloud computing, gaming, data centre and project sales, will also be in demand. To attract and retain high-level talent, we advise hiring managers to offer regional opportunities as well as job rotation, combined with training and development programmes. SALES & MARKETING In 2015 we saw a significant rise in the number of sales and marketing positions available. However, hiring managers faced challenges attracting professionals at mid to senior management levels due to the limited candidate pool in Thailand. To address the talent war, employers began focusing on development programmes to train and up-skill their employees. Due to a slowdown in the Southeast Asian region, multinational corporations are anticipated to exercise hiring caution, although critical positions at mid to senior management levels will still be replaced. In addition, Thailand is expected to try and retain its position as one of the region s manufacturing leaders in order to maintain positive future growth throughout Therefore we expect employers to seek sales engineers, general managers and marketing managers, with a combination of industry experience, product knowledge and leadership skills, to build strong teams. The consumer space is anticipated to continue growing in 2016 with increased positions in the digital marketing and e-commerce spaces. This is a result of current consumer buying behaviour and active e-commerce players in the market. In 2016 we also expect professionals with FMCG experience and the ability to adapt to diverse work environments to remain in demand. In particular, those with regional work experience in Cambodia, Myanmar and Vietnam will be highly sought after as organisations increasingly expand their operations across the region facing challenges in sourcing experienced local talent. SUPPLY CHAIN & PROCUREMENT Thailand s supply chain and procurement recruitment market remained highly competitive and candidate driven in As most companies across industries continuously improved their supply chain approach, multinational corporations in particular sought bilingual hires with international experience. The most sought-after roles in 2015 were supply chain managers, procurement managers and directors, logistics managers and sourcing managers. In addition, candidates with strong communication skills and the ability to integrate into multinational corporations and work with regional stakeholders, were especially valuable. Supply chain professionals were primarily motivated by salary when it came to new opportunities, with the scope and responsibility of the role being the next most pressing motivation. In terms of salaries, candidates expected a remuneration increase of between 20-30% when joining a new company, and we expect this trend to continue in We also anticipate skilled professionals will receive a salary rise of 5-7% when staying in their current role. Although some labour-intensive manufacturing companies are actively considering relocating their production operations abroad, supply chain and procurement in Thailand will remain a candidate-driven market in To attract and retain key talent, we advise hiring managers to involve Thai supply chain professionals in regional projects to develop their skills and technical expertise. Thailand 356

358 BANGKOK ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM THB ( ) Accounting Internal Auditor - Director m m Tax Director m m Internal Auditor - Manager m m Tax Manager m m Group Accountant - Consolidations 960k - 1.4m 960k - 1.4m Tax Supervisor 840k - 1.3m 840k - 1.3m Finance Chief Financial Officer m m Finance Director - MNC m m Finance Director - SME m m Financial Controller - MNC m m Commercial Manager m m Financial Controller - SME m m Senior FP&A m m Corporate Finance m m Finance Manager 960k - 2.4m 960k - 2.4m Treasury Manager 960k - 2.4m 960k - 2.4m Accounting Manager 960k - 1.7m 960k - 1.8m Cost Controller 800k - 1.8m 960k - 1.8m Senior Financial Analyst 960k - 1.6m 960k - 1.6m Credit Controller 750k - 1.3m 750k - 1.3m FP&A 600k - 1.1m 720k - 1.4m Treasury Analyst k k Financial Analyst k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 357 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

359 BANGKOK BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM THB ( ) 1-4 YRS' EXP 4-8 YRS' EXP 8+ YRS' EXP Front Office Banking Treasury Sales 960k - 1.2m m m m m m+ Private Equity 950k - 1.2m m m m m m+ Cash/Trade Sales 880k - 1.2m 900k - 1.4m m m m m+ Corporate Banking k 850k - 1.0m m m m m+ Capital Markets 770k - 1.2m 800k - 1.3m m m m m+ Private Banking 650k - 1.0m 700k - 1.1m m m m m+ Commercial Banking k k 900k - 1.8m m m m+ Investment Banking 480k - 1.2m 500k - 1.3m m m m m+ Credit Analyst k k 720k - 1.0m 800k - 1.2m m m+ Banking Operations Market Operations k k 760k - 1.4m 800k - 1.5m m m+ Treasury Settlements k k 750k - 1.8m 800k - 2.0m m m+ Cash Management k k 800k - 1.6m 900k - 1.7m m m+ Trade Support k k 748k - 1.2m 800k - 1.3m m m+ Corporate Governance Compliance 770k - 1.6m 800k - 1.7m m m m m+ Market Risk 720k - 1.2m 770k - 1.3m m m m m+ Credit Risk 700k - 1.2m 750k - 1.3m m m m m+ Operational Risk 660k - 1.2m 700k - 1.3m m m m m+ Internal Audit k 700k - 1.0m m m m m+ Financial Accounting Business Analysis k k 946k - 2.0m 970k - 2.2m m m+ Finance Operations k k 950k - 1.8m 970k - 2.0m m m+ Accountant k k k 850k - 1.0m 960k - 1.8m m+ NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Thailand 358

360 BANGKOK HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM THB ( ) 3-6 YRS' EXP 6-12 YRS' EXP 12+ YRS' EXP Commerce & Industry Organisational Development 800k - 1.2m 800k -1.2m m m m m Compensation & Benefits 800k - 1.2m 800k - 1.2m m m m m Business Partner k 720k - 1.1m m m m m HR Generalist k k m m m m Employee Relations k k 900k - 1.5m 900k - 1.5m m m HRIS k k m m m m Training & Development k k m m m m HR Operation Service (Shared Services) k k 900k -1.3m 900k -1.5m m m Recruitment k k 750k - 1.2m 750k - 1.6m m m Payroll k k k k m m Mobility k k k k 900k - 1.6m 900k - 1.6m Banking & Financial Services Organisational Development 800k - 1.5m 800k - 1.5m m m m m Compensation & Benefits 800k - 1.2m 800k - 1.2m m m m m HRIS 720k - 1.0m 760k - 1.0m m m m m Training & Development k k m m m m Business Partner k 720k - 1.1m m m m m HR Operation Service (Shared Services) 720k - 1.0m 720k - 1.0m m m m m HR Generalist 660k - 1.0m 660k - 1.0m m m m m Employee Relations k k 900k - 1.5m 900k - 1.5m m m Recruitment k k 800k - 1.7m 800k - 1.8m m m Payroll k k 720k - 1.2m 720k - 1.2m m m Mobility k k 680k - 1.0m 680k - 1.0m m m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Figures vary depending on whether the incumbent is holding a regional/global role. 359 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

361 BANGKOK INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM THB ( ) IT Systems IT Director m m IT Program Manager m m Development Manager m m Project Manager m m Solution Architect m m Business Analyst Manager m m C++ S/W Engineer m m Test Manager m m Application Support Analyst 840k - 1.3m 900k - 1.5m Java/J2EE S/W Engineer 840k - 1.2m 900k - 1.3m Software Developer 780k - 1.4m 800k - 1.6m IT Business Analyst 780k - 1.3m 800k - 1.5m ERP/Business Application Project Manager m m Consultant - Functional m m Consultant - Technical 850k - 1.6m 900k - 1.7m Infrastructure Service Delivery Manager m m Project Manager m m Infrastructure Manager m m Infrastructure Team Leader m m Desktop Support Analyst 700k - 1.0m 750k - 1.1m IT Security, Risk & Control IT Auditor 1.2m - 1.8m m IT Security Analyst 900k - 1.4m 950k - 1.5m NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Thailand 360

362 BANGKOK SALES & MARKETING CONSUMER & B2B ROLE PERMANENT SALARY PER ANNUM THB ( ) Sales Sales Director m m Channel Manager m m Sales Manager m m Business Development Manager m m Marketing Marketing Director m m Marketing Research Director m m Public Relations Director m m Marketing Manager m m Brand Manager m m Senior Marcomms Manager m m Trade Marketing Manager 950k - 1.5m 960k - 2.0m Public Relations Manager 850k - 1.5m 960k - 1.6m Marketing Research Manager 850k - 1.1m 960k - 1.6m Direct Marketing Manager 850k - 1.0m 960k - 1.6m Marcomms Manager 950k - 1.3m 960k - 1.4m Management GM/MD m m Country Manager m m Sales & Marketing Director m m Senior Commercial Manager m m Sales & Marketing Manager m m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 361 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

363 BANGKOK SUPPLY CHAIN & PROCUREMENT ROLE PERMANENT SALARY PER ANNUM THB ( ) Procurement Procurement Director m m Procurement Manager m m Category Manager m m Sourcing Manager m m Contracts Manager m m Buyer 900k - 1.2m m Sourcing Specialist 900k - 1.2m m Supply Chain & Logistics Supply Chain Director m m Supply Chain Manager m m Supply/Demand Planning Manager m m Customer Service Manager m m Operations Manager m m Production Planning Manager 800k - 1.3m 900k - 1.4m Logistics Manager 800k - 1.7m 800k - 1.7m Warehouse Manager 700k - 1.5m 700k - 1.5m NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Thailand 362

364 Vietnam 2015 WAS A POSITIVE YEAR FOR RECRUITMENT IN VIETNAM. STRONG LEVELS OF DEMAND WERE DRIVEN BY NEW BUSINESSES ENTERING THE MARKET, INCLUDING THE ARRIVAL OF MAJOR COMPANIES FROM AUSTRALIA, THE US AND THAILAND INSIGHT With such high levels of demand, the Vietnamese talent pool showed signs of becoming stretched. Competition for skilled professionals in finance, HR, compliance, sales, marketing, manufacturing, sourcing and IT significantly increased. To address this shortage of local talent, employers increasingly looked to attract returning Vietnamese professionals. Engaging those who have studied or worked abroad has clear advantages - they have gained skills and experience they can share with colleagues in Vietnam, and understand the culture and language to a level many foreign professionals cannot match EXPECTATIONS The trend for recruiting returning Vietnamese professionals will continue in Hiring these internationally experienced candidates will help hiring managers begin to close the experience gap between candidates required for middlemanagement positions as well as those for more senior roles. This, in turn, will assist companies to develop solid succession planning strategies by recruiting high-potential candidates capable of moving to the very top levels of the company. There is no sign of inward investment slowing down and we expect new businesses to continue entering the market during We also anticipate that many already established companies will run transformational and restructuring programmes, heightening demand for HR practitioners with change management experience, for example. In the face of greater competition for talent, we recommend that hiring managers consider candidates from industries and sectors other than their own. For example, pharmaceutical companies and retailers might consider individuals with complementary FMCG experience whose skills can be refined internally. Continuing the trend seen in 2015, hiring managers will want to see evidence of candidates loyalty to former employers, to identify those most likely to stay in a new role for a significant length of time. This will intensify competition among employers for candidates who can point to longer terms of employment. We anticipate that salary increases ranging from 15-25% are realistic for those changing jobs. However, companies need to be aware that a substantial proportion of jobseekers continue to target often unaffordable rises of 40-60%, making them unviable candidates for most employers. Although salary is always a key factor in attracting new employees, the opportunity for structured career progression will be more important than ever in 2016, as the competition for talent intensifies. 363 Robert Walters Global Salary Survey 2016

365 Recruiting internationally experienced candidates will help hiring managers close the experience gap between candidates required for middle management positions as well as those for more senior roles. This, in turn, will assist companies in developing solid succession planning strategies % Average salary rise for those moving jobs in 2016 (Salary Survey 2016) Talent shortages in Vietnam mean hiring managers are considering professionals outside of their industry sector Vietnam KEY FINDINGS (Whitepaper) (Salary Survey 2016) WHAT PROFESSIONALS WANT TOP 3 INDUSTRIES HIRING Career development FMCG Sustained levels of demand on the locally-based talent pool has resulted in an increasing focus on returning Vietnamese professionals. Cultural fit Learning & development Supply chain & logistics Manufacturing Although salary is always an important factor, the opportunity for structured career progression will be more important than ever in % (Returning Asians Survey) Employers willing to offer higher salary rises to returning Vietnamese Whitepaper: Robert Walters Research, Insights from the Exit Process 2014, 803 respondents. Robert Walters Returning Asians Survey , 654 respondents. Vietnam 364

366 Vietnam Vietnam OVERVIEW ACCOUNTING & FINANCE With a growing shortage of accounting and finance professionals in 2015, hiring managers found themselves competing for candidates. As opportunities for jobseekers increased, appropriate candidates for senior roles became more selective about the jobs they applied for, exercising choice over the industries and locations they wanted to work in. At the same time there was growth in demand for senior accounting and finance professionals to fill roles such as CFO and finance director, particularly in the manufacturing and real-estate sectors, but as there were a relatively small number of appropriately qualified and experienced candidates at this level, recruitment has been challenging. In order to address this problem, many hiring managers are replacing expatriate CFOs with local financial controllers who have the ability to develop and take on a more senior role. Candidates with good communication skills and business acumen will, therefore, be increasingly important to employers in 2016, ensuring new finance hires can effectively support the business. Those with international qualifications, such as ACCA and CIMA, will continue to be in high demand, particularly by multinational companies. In the pharmaceutical sector, where tighter regulatory practices have revealed skills shortages in compliance, a key recruitment focus will be on internal controllers with compliance and internal audit backgrounds. The continuing worldwide emphasis on ethical, regulatory and risk management issues will KEY TRENDS ensure that this trend continues to drive increased recruitment in We expect that FMCG companies, in particular, will continue to focus on building solid stakeholder relationships in Senior audit and control professionals with strong technical knowledge and good communication skills will therefore continue to be popular hiring choices throughout the year. As companies seek to contain costs, demand will also exceed supply for costing managers with experience across a range of methodologies. BANKING & FINANCIAL SERVICES Vietnam s banking sector, which became fragmented following a decade of fast expansion, has been through a series of mergers in recent years. This trend continued in 2015, as the country s banks, supported by the government, sought to reduce their exposure to non-performing loans. However, the arrival of three new market entrants has intensified competition among banks to attract and retain profitable business, increasing the requirement for client-facing managers and compliance professionals. ENGINEERING Vietnam s growing role as a manufacturing hub drove demand for local plant managers with engineering backgrounds as well as specific factory operations and leadership experience. Hiring managers will continue to seek customer-oriented field service engineers in 2016, placing particular importance on strong technical skills in mechanical and electrical engineering. Employers will also target project management professionals as well as development engineers to implement and lead their research and development activities. We envisage that the manufacturing, real-estate, construction materials and mining industries will be noticeably active; real-estate construction is particularly buoyant. As a result of this upturn, engineering professionals will be in higher demand during HUMAN RESOURCES During 2015, many companies in Vietnam were in a transitional phase as they sought to build measurable business growth models. As a result, the focus of hiring activity in HR was primarily on key functions, such as change management and organisational and talent development. It was also noticeable that companies were investing more effort and spend on staff retention across all areas of the business. This resulted in increased demand for strategic-reward professionals, focused on developing initiatives to improve staff loyalty over the long term. Widespread interest in the areas of change management and talent development created skills shortages in these specialist roles, and hiring managers started to struggle in their search for jobseekers capable of both strategy development and implementation. With shortages of HR specialists expected to continue in 2016, salaries are likely to rise for professionals experienced in total rewards as well as learning and development. We recommend that, in addition to seeking As more manufacturing plants are established in Vietnam; procurement, sourcing, and supply chain professionals will see more job opportunities. Senior audit and control professionals with strong technical knowledge and good communication skills will continue to be popular hiring choices throughout the year. The entrance of new mobile applications businesses and tech start-ups in Vietnam will drive recruitment for positions in ios development, Android development and graphic design. In the healthcare sector, demand for marketers grew as international companies expanded their presence in Vietnam and as competitors entered the market for the first time. 365 Robert Walters Global Salary Survey 2016

367 Vietnam fully-qualified and proven candidates, hiring managers should also target those in the earlier stages of their careers who can be trained and developed within the organisation. Multinational companies in Vietnam will increasingly seek to attract returning Vietnamese HR professionals who have international educational backgrounds and strategic experience. These specialists can bring global best practice of international business to the Vietnamese market, but have the additional benefit of local cultural understanding. Their experience can filter through the company to help colleagues gain new knowledge and skill sets. In 2016, we foresee more manufacturing operations entering Vietnam from China, Thailand, Japan and South Korea in a variety of industries including electronics, textiles and FMCG. As a result, we anticipate that the competition for HR managers with experience in factory operations will intensify in INFORMATION TECHNOLOGY During 2015, the continued growth of cloud computing and big data technologies meant solution architects, project management and integration engineering specialists were in highest demand. We also noticed increased demand for professionals with PHP and Java experience in the software outsourcing sector. Growing competition for skills in the banking and financial services sector, meanwhile, made it difficult for hiring managers to recruit the chief technology officers and the other senior IT experts they sought. In 2016, we believe that most hiring will take place for software engineering, and senior IT management roles. With the entrance of new mobile applications and tech start-ups in Vietnam, positions in ios development, Android development and graphic design are likely to open for IT professionals. Hiring managers will continue to struggle in their search for technically skilled IT professionals who are fluent in English. SALES & MARKETING Demand for sales and marketing professionals remained stable during 2015, with hiring activity strong in the digital marketing and brand management areas. With increased demand predicted for consumer goods, the search for people with a background in FMCG was intense, particularly in retail and over-the-counter pharmaceuticals. FMCG & RETAIL Continuing retail sector growth in 2016, including expected market entry by a large multinational, will also create opportunities and intensify competition for experienced and skilled marketing professionals, general managers and business unit directors. Experienced brand managers, in particular, will be in scarce supply, and competition for those who can prove a strong record of achievement will be intense. TECHNICAL HEALTHCARE In the healthcare sector, demand for marketing professionals also showed positive growth during 2015 once again driven by international companies expanding their presence in Vietnam and by competitors entering the market for the first time. There was, however, a noticeable reduction in recruitment for new sales roles in the pharmaceutical sector. Meanwhile, the medical devices sector remained buoyant, with sales and product managers particularly sought after, including those in senior positions. A shortage also emerged for key account managers who could focus on tenders and enhancing overall salesforce effectiveness. We also saw a noticeable shift in demand as hiring managers sought medical professionals who could complement their core medical knowledge with a high level of communication and management skills. With ongoing expansion in the healthcare sector there is likely to be a scarcity of talent in As a result, professionals moving jobs can realistically expect salary increases of 20-30%. However, companies entering the market without a prominent brand profile are keen to attract top talent and may seek to make themselves more competitive by offering increases above this level. INDUSTRIAL Recruitment levels across the construction and animal feed markets were strong in 2015, with sales engineers and sales managers in highest demand. In manufacturing, those with large bases supplying the Vietnamese market focused on promoting local talent from within their business during This created middle-management vacancies for high-quality local candidates. The recruitment market for sales engineers and projects sales executives within building materials companies was also very active in Mirroring trends in other sectors, we will continue to see companies looking to replace expatriates with high-quality Vietnamese talent those with overseas exposure will be in highest demand. We also saw increased hiring for marketing roles within the automotive industry. Across the industrial sector, we anticipate that pay rises will be in the 10-15% range in However, many candidates will move for similar, or even smaller increases if the role offers attractive career progression at a more desirable company. SUPPLY CHAIN, PROCUREMENT & LOGISTICS In 2015, manufacturing, retail, logistics, real estate, construction materials, mining and e-commerce all saw growth in supply chain recruitment. The greatest numbers of positions were in sales and operational roles in logistics, as well as sourcing and production management in manufacturing. Professionals capable of managing nationwide projects and supporting business growth were particularly sought after. As costs have risen in China, companies are trying to reduce their reliance on Chinese manufacturing and resources. If more companies direct operations towards Vietnam then the impact is likely to be felt throughout Therefore demand will continue, particularly among manufacturers, with expected increased hiring in the areas of sourcing and merchandising as well as quality control and assurance. Vietnam 366

368 HO CHI MINH CITY ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM USD ($) Accounting Internal Audit Manager 26-52k 24-48k Chief Accountant 18-33k 20-36k Senior Auditor 20-24k 18-30k Management Accountant 11-20k 18-30k Financial Accountant 11-20k 18-24k Finance Chief Financial Officer k k+ Legal Director k k+ Finance Director - MNC 60-90k 60-96k Finance Director - SME 48-72k 60-72k Financial Controller - MNC 42-58k 42-60k Compliance & Risk Manager 37-54k 36-60k Financial Controller - SME 30-48k 36-48k Legal Manager 24-48k 30-60k Finance Manager 26-50k 30-48k Tax Manager 27-52k 24-48k Finance/Business Analyst 18-33k 18-33k Cost Controller 13-30k 15-30k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 367 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

369 HO CHI MINH CITY BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM USD ($) Front Office Private Equity 36-48k 36-48k Investment Manager 18-48k 18-48k Investment Analyst 18-36k 18-36k Corporate Banking Head of Corporate Banking k k Relationship Manager 18-60k 18-60k Consumer Banking Head of Consumer Banking k k Relationship Manager 18-36k 18-36k Middle & Back Office Risk Manager 36-72k 36-72k Operations Manager 24-48k 24-48k Product Manager 24-44k 24-44k Compliance Manager 18-40k 18-40k Internal Audit 18-36k 18-36k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 7 Robert Walters Global Salary Survey 2016 Vietnam 368

370 HO CHI MINH CITY ENGINEERING ROLE PERMANENT SALARY PER ANNUM USD ($) Operations Manager 56-70k 56-70k Plant Manager 56-70k 56-70k Continuous Improvement Manager 35-49k 35-49k Engineering Manager 35-49k 35-49k QA/QC Manager 35-42k 35-42k Project Manager 30-45k 30-48k R&D Manager 21-35k 30-48k Maintenance Manager 30-45k 30-45k Service Manager 30-45k 30-42k Production Manager 28-42k 30-42k HSE Manager 28-42k 30-42k Facility Manager 25-30k 24-30k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 369 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

371 HO CHI MINH CITY HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM USD ($) Human Resources HR Director k k HR Shared Services Manager 40-60k 40-60k HR Manager 28-60k 30-60k Rewards Manager 24-26k 30-48k Training & Development Manager 19-26k 30-42k Talent Acquisition Manager 20-36k 26-36k Organisation & Development Manager 25-48k 27-52k Compensation & Benefits Manager 24-26k 25-30k HR Business Partner 25-48k 24-40k HR Executive 9-15k 9-15k Business Support Office Manager 13-19k 14-24k Personal Assistant 6-13k 9-18k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 9 Robert Walters Global Salary Survey 2016 Vietnam 370

372 HO CHI MINH CITY INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM USD ($) Business Transformation Head of IT 55-80k 60-96k Senior Project Manager 28-40k 30-48k IT Manager 20-35k 24-42k Senior Business Analyst 22-33k 18-33k Development Technical Architect 24-30k 24-42k Senior Mobile Developer 23-26k 20-28k ERP Consultant 18-25k 18-25k Java /PHP/.NET Engineer 18-22k 18-24k Front-end Developer 20-26k 15-24k Senior QC Engineer 9-15k 14-21k Digital & Online Digital Solutions Director 38-48k 48-60k Head of E-commerce 35-44k 46-60k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 371 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

373 HO CHI MINH CITY SALES & MARKETING ROLE PERMANENT SALARY PER ANNUM USD ($) Management General Manager/Managing Director k k Sales & Marketing Director k k Sales Sales Director k 60-85k Key Account Manager 32-45k 35-50k Business Development Manager 38-45k 35-45k Area Sales Manager 25-33k 21-34k Sales Engineer 9-15k 9-15k Marketing Trade Marketing Director 85-95k k Corporate Affairs Director k k Marketing Director k 72-84k Marketing Manager 68-95k 45-55k Trade Marketing Manager 48-62k 42-54k Corporate Affairs Manager 25-35k 32-40k Brand Manager 25-33k 26-36k Visual Merchandising Manager 23-30k 25-32k Technical Healthcare Medical Director k k Medical Affairs Manager 25-35k 30-40k Regulatory Affairs Manager 30-40k 34-42k Clinical Research Manager 20-28k 25-32k Medical Advisor 20-28k 24-30k Medical Science Liaison 12-20k 18-24k NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified. 11 Robert Walters Global Salary Survey 2016 Vietnam 372

374 HO CHI MINH CITY SUPPLY CHAIN, PROCUREMENT & LOGISTICS ROLE PERMANENT SALARY PER ANNUM USD ($) Supply Chain & Procurement Supply Chain Director k k Operations Manager 55-60k 56-70k Plant Manager 56-70k 56-70k Supply Chain Manager 35-50k 35-60k Sourcing Manager 36-52k 35-52k Planning Manager 30-40k 32-45k Logistics Manager 33-45k 30-45k Procurement Manager 30-45k 30-45k Production Manager 28-42k 30-42k Customer Service Manager 25-40k 28-40k Warehouse Manager 25-35k 28-35k Third Party Logistics Operations/Logistics Manager 33-44k 35-48k Sales Manager 27-33k 27-35k Key Account Manager 20-33k 22-33k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. 373 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

375 Middle East WHILST FALLING OIL PRICES AND CONTINUING CONFLICTS IN THE REGION RESTRICTED SOME COMPANIES OPPORTUNITIES FOR GROWTH DURING 2015, THE IMPROVING GLOBAL ECONOMIC OUTLOOK HAD A MILD BUT POSITIVE OVERALL EFFECT ON RECRUITMENT LEVELS INSIGHTS The significant decline in oil prices since the summer of 2014 greatly reduced hiring levels across the oil and gas sector, with a wider knock-on effect across this worldwide industry centre. The downturn affected multinationals and local businesses alike, and we saw a number of high-profile mergers and acquisitions take place. Many organisations laid off staff as they rescaled their operations. In fuel-hungry sectors however, businesses such as airlines and logistics benefited greatly from the lower oil price and were able to invest in head office staff. We also saw high levels of hiring activity in the property, construction and engineering sectors during 2015, while retail and small to medium FMCG companies continued to recruit at steady levels EXPECTATIONS We re cautiously optimistic about the 2016 jobs market. The need for new hires is set to be strong among employers across government, real estate, financial services and tourism. In addition, as always, the transient nature of the region s recruitment needs means we anticipate regular requirements for replacement hires. Whilst it has been well documented that government spending is being reigned in, the vast public building programmes underway in Dubai and other states will underpin demand for professionals in leadership, legal and finance positions in the region s head offices during On a macro level, as sanctions against Iran begin to ease further in 2016, many companies across the region are set to build headcount across all business areas to cope with this new, exciting market. Government policies in the UAE and Saudi Arabia to prioritise Gulf nationals over expatriate professionals when being considered for new roles will be even more strictly observed in This is an important issue for employers. While the number of highly educated, wellqualified and experienced local professionals has never been greater, they are often keen to work only in their home country and close to family, further restricting this market. Companies wishing to appoint high-quality professionals in more remote locations might therefore consider offering benefits like free flights home at weekends. An additional related means of attracting and retaining the best talent will be to reintroduce more competitive rewards packages, including housing and education funding. These were largely stripped out following the financial crisis. We expect salaries to remain largely flat in However, there will be exceptions such as construction professionals and private practice lawyers, digital experts, category managers (FM) and FP&A professionals. Middle East 374

376 Middle East Middle East OVERVIEW ACCOUNTING & FINANCE The commercial success of companies across the region and their keenness to improve productivity drove continued growth in the hiring of accounting and finance talent in Employers were willing to pay up to 5% over the market rate to attract the right professionals. A focus on streamlining process change also meant demand was high for accountants with technology skills. The most sought after were ACA, ACCA and CIMA-qualified professionals with 5-10 years post-qualification experience and knowledge of financial modelling. Other practice areas such as banking and finance saw a relatively slow year as lending from the banks remained cautious and we expect this to affect front-end construction roles next year as lending for new projects weakens. However, we should conversely see an increase in contentious construction as companies enter into dispute resolution. In addition to construction disputes, we saw a sharp increase in activity in the area of compliance and fraud investigations which caused firms to recruit candidates with experience in matters related to the UK Bribery Act and Anti-Money-Laundering. In 2016, we expect that increasing purchasing activity will cause most procurement hiring to be in digital, IT, marketing and facilities departments in the real estate, telecoms and government sectors. The continuing positive performance of the FMCG and retail sectors will ensure that supply chain hiring is strongest in these areas. SALES & MARKETING The falling oil price and knock-on effects on government budgets in 2015 restricted hiring for sales and marketing professionals in the oil and construction markets. In 2016, hiring managers will be particularly keen to attract commercial accountants with practical experience and understanding of IFRS accounting. A drive to improve competitiveness will also result in companies seeking top-tier talent to work in less appealing locations across the region. BANKING & FINANCIAL SERVICES Employment targeting which prioritised the hiring of local candidates over international talent was the biggest issue facing banks in the Middle East in 2015, and this will continue to dominate hiring in In addition, the punitive action of global regulators has been another major factor, and this will ensure that in 2016 compliance will once again be the busiest area of recruitment. Other than in the compliance area, we do not anticipate significant growth in the banking and financial services jobs market during As long as the oil price remains low, organisations will be cautious, with hiring managers tending only to replace employees who are leaving rather than grow headcount. LEGAL In 2015, an increase in M&A activity saw firms actively trying to grow their corporate practices, with a particular focus on candidates from established markets such as the UK and Australia. Construction and projects remained busy practice areas as development projects continued throughout the Middle East. 375 Robert Walters Global Salary Survey 2016 On the whole the in-house recruitment market was quieter in 2015, primarily due to companies wanting to stabilise team sizes and utilise law firms much more for external advice. As law firms seek to improve relationships with companies, in-house secondments have remained a vital part of strategically hiring and supplementing in-house legal teams with these secondments often turning into permanent employment. In-house hiring that did take place remained focused on local experience, candidates with Arabic skills and backgrounds in corporate and commercial law were in high demand. At present, there is uncertainty with regard to the economic state of the Middle East markets with most firms looking to take a more cautious approach, particularly in the first half of However, we do expect hiring and growth to continue in key practice areas, but at a steadier pace compared to PROCUREMENT & SUPPLY CHAIN There was a slight increase in the hiring of procurement and supply chain professionals in This was unsurprising, as one of the major trends that emerged during the year saw large companies driving efficiency improvements by centralising their procurement functions. In another significant trend, the implementation of ERP (enterprise resource planning) platforms within businesses raised demand for experienced professionals who have gained best practice experience working abroad. In contrast, we saw significant growth in demand for talent in the tourism, banking and manufacturing sectors. The most sought-after professionals were those with technical and digital expertise, as well as individuals with strong Middle East experience and Arabic language skills. As digital communications and social media continued to increase in importance, hiring managers will seek sales and marketing specialists with strong technical skills in these areas. Tourism will be another key focus, particularly as the UAE continues its drive to become one of the world s leading tourist destinations. As sanctions against Iran begin to ease further in 2016, companies will add headcount to take advantage of this new, exciting market.

377 MIDDLE EAST ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER MONTH (AED) Senior-level Roles Chief Financial Officer (Regional) k k+ Chief Financial Officer (Local) 60-80k 63-84k Finance Director 45-60k 50-63k Head of Treasury 50-75k 52-78k Head of Internal Audit 50-70k 55-73k Tax Director 50-75k 52-80k Head of Compliance 50-70k 55-85k Qualified Financial Controller 37-50k 40-55k Finance Manager 30-45k 32-48k Finance/Internal Audit Manager 28-38k 35-45k Financial Accountant (3-6 yrs' exp) 22-37k 25-35k Financial Accountant (0-3 yrs' exp) 15-25k 18-25k Internal Auditor (3-6 yrs' exp) 22-37k 23-38k Internal Auditor (0-3 yrs' exp) 15-25k 15-25k FP&A/Business Analyst (3-6 yrs' exp) 22-38k 28-40k FP&A/Business Analyst (0-3 yrs' exp) 15-25k 15-25k PQ Financial & Management Accountant 12-20k 15-25k Treasury Manager 35-50k 35-50k Tax Manager 33-50k 33-50k Qualified by Experience Financial Controller 30-40k 30-40k Finance/Internal Audit Manager 20-35k 22-35k Financial Accountant (3-6 yrs' exp) 17-22k 17-25k Financial Accountant (1-3 yrs' exp) 12-17k 12-20k Accounting Administrator 6-12k 6-12k Credit Control Manager 22-30k 22-30k NB: All salary packages are inclusive of basic salary, housing and transport and should be considered the monthly cash pay. This does not include medical insurance, flights home or bonus. Robert Walters Global Salary Survey Middle 2016 East 376 6

378 MIDDLE EAST BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER MONTH (AED) General Accounting Roles Chief Financial Officer k k Finance Director 45-65k 45-65k Financial Controller 37-57k 35-60k Financial Accountant (3-6 yrs' exp) 23-38k 25-40k Financial Accountant (0-3 yrs' exp) 15-26k 15-30k Internal Auditor (0-3 yrs' exp) 15-26k 12-28k Compliance Chief Compliance Officer (MD) k k+ Compliance Manager (VP) 35-50k 30-60k Sanctions Manager 28-40k 30-42k AML Manager 28-38k 28-38k Compliance Officer (KYC/AML) 20-40k 20-40k Risk Chief Risk Officer (MD) k k+ Head of Risk Management (Director) 42-62k 42-62k Manager Credit Risk (VP) 32-52k 32-52k Manager Market Risk (VP) 32-52k 32-52k Corporate/Wealth Bank Relationship Manager 5+ yrs 30k+ 30k+ Relationship Manager 0-5yrs 18-28k 18-28k Corporate & Retail Head of Corporate Banking k k Head of Wholesale Banking k k Asset Management Fund Manager 40-50k 42-52k Asset/Portfolio Manager 45-52k 45-55k Research Analyst 15-35k 18-45k Trade Support 15-25k 15-25k NB: All salary packages are inclusive of basic salary, housing and transport and should be considered the monthly cash pay. This does not include medical insurance, flights home or bonus Robert Robert Walters Walters Global Global Salary Salary Survey Survey

379 MIDDLE EAST LEGAL ROLE PERMANENT SALARY PER MONTH (AED) PRIVATE PRACTICE UK PRIVATE PRACTICE US IN-HOUSE Qualified 9+ yrs' PQE/General Counsel 71-73k 71-73k 72-96k 72-96k k k 8 yrs' PQE 68-70k 68-70k 68-88k 68-88k 64-77k 64-77k 7 yrs' PQE 63-67k 63-67k 64-81k 64-81k 59-73k 59-73k 6 yrs' PQE 58-61k 58-61k 59-75k 59-75k 55-68k 55-68k 5 yrs' PQE 54-58k 54-58k 55-67k 55-67k 50-63k 50-63k 4 yrs' PQE 48-53k 48-53k 50-64k 50-64k 45-57k 45-57k 3 yrs' PQE 43-46k 43-46k 43-60k 43-60k 40-51k 40-51k 2 yrs' PQE 39-41k 39-41k 40-55k 40-55k 35-45k 35-45k 1 yr PQE 34-37k 34-37k 35-44k 35-44k 32-40k 32-40k Newly-qualified 30-33k 30-33k 31-42k 31-42k 27-36k 27-36k Paralegal 5+ yrs' exp 30-38k 30-38k 30-38k 30-38k 30-38k 30-38k 4 yrs' exp 27-32k 27-32k 27-32k 27-32k 27-32k 27-32k 3 yrs' exp 24-28k 24-28k 24-28k 24-28k 24-28k 24-28k 2 yrs' exp 20-24k 20-24k 20-24k 20-24k 20-24k 20-24k 1 yr exp 17-21k 17-21k 17-21k 17-21k 17-21k 17-21k 0 yrs' exp 15-18k 15-18k 15-18k 15-18k 15-18k 15-18k NB: All salary packages are inclusive of basic salary, housing and transport and should be considered the monthly cash pay. This does not include medical insurance, flights home or bonus. Robert Walters Global Salary Survey Middle 2016 East 378 8

380 MIDDLE EAST PROCUREMENT & SUPPLY CHAIN ROLE PERMANENT SALARY PER MONTH (AED) Procurement Procurement Director 70-85k 70-85k Procurement Manager 40-50k 40-50k Category Manager 30-40k 33-44k Buyer 15-20k 15-20k Bid Manager 27-34k 29-36k Strategic Sourcing Manager 40-50k 40-50k Senior Contracts Manager 30-50k 30-46k Supply Chain Supply Chain Director 60-75k 60-75k Supply Chain Manager 35-50k 35-50k Demand/Supply Planning 25-35k 25-35k Materials Manager 33-44k 33-44k Logistics Specialist 18-27k 18-27k Operations Manager 27-40k 27-40k Logistics Manager 25-35k 27-37k Warehouse Manager 25-35k 25-35k NB: All salary packages are inclusive of basic salary, housing and transport and should be considered the monthly cash pay. This does not include medical insurance, flights home or bonus Robert Robert Walters Walters Global Global Salary Salary Survey Survey

381 MIDDLE EAST SALES & MARKETING ROLE PERMANENT SALARY PER MONTH (AED) Marketing Head of Marketing/Marketing Director 65-85k 60-85k Marketing Manager 30-45k 25-45k Marketing Executive 22-28k 18-28k Trade Marketing Manager 30-38k 30-40k Trade Marketing Analyst 17-28k 17-28k Regional Brand Manager 33-45k 33-45k Brand Manager 28-38k 28-40k Junior Brand Manager 20-33k 20-35k Sales Head of Sales 45-55k 45-60k Corporate Account/Sales Director 35-45k 40-55k Business Development Manager 35-40k 35-40k Key Account/Sales Manager 20-35k 20-35k Sales Executive 15-22k 15-22k Senior Management Regional General Manager k k Managing Director k k General Manager 65-90k 65-90k Country Manager 55-80k 55-80k NB: All salary packages are inclusive of basic salary, housing and transport and should be considered the monthly cash pay. This does not include medical insurance, flights home or bonus. Robert Walters Global Salary Survey Middle 2016 East 38010

382 South Africa THERE WERE SIGNS OF AN UPTURN IN CONFIDENCE AMONGST SOUTH AFRICAN HIRING MANAGERS IN 2015, DESPITE AN ECONOMIC ENVIRONMENT THAT HAS BEEN DEEPLY AFFECTED BY THE DECLINE IN GLOBAL OIL PRICES. Even though we saw a 1.3% reduction in economic growth, the longer-term picture looks promising, with a number of sectors poised to drive growth and career opportunities for specialist professionals in the years ahead. Advanced manufacturing, infrastructure, natural gas, service exports, and agro-processing could all create a significant volume of new jobs INSIGHT Although it was a challenging year for many of South Africa s hiring managers, with major firms introducing a recruitment freeze, there were also a number of growth areas. Hiring levels in the financial services industry, for example, gained momentum as the year progressed. This was particularly driven by investment banks seeking specific skill sets within private banking and corporate finance. The IT jobs market was also active, and the arrival of several international law firms in Johannesburg meant lawyers with experience in private practice were especially in demand EXPECTATIONS We anticipate 2016 will be a challenging year for hiring managers as the market continues to be dominated by the problematic issues affecting the natural resources sector, specifically mining and oil & gas. However, mirroring 2015 trends, there will be increased hiring confidence in key areas as professionals with specialist skills in banking, legal and IT will remain in demand during We also expect to see increased hiring among pharmaceutical and manufacturing companies, as future legislative requirements will demand that drugs used in Africa are manufactured in Africa. In addition, we anticipate that as the oil and gas industry declines, companies in the growing renewable energy sector will seek to hire chartered accountants to guide their development. As competition intensifies for key professionals across banking, legal and IT, we anticipate that many will increasingly receive multiple job offers. The first impressions of possible employers will therefore become much more important in a candidate s decision-making process, and we recommend that hiring managers streamline the recruitment process to create the most favourable experience. Despite a challenging backdrop, top-performing candidates in all sectors will receive salary increases of 10-15%, while non-movers can expect inflation-linked increments of 5-10%. The country s Employment Equity legislation, which guarantees employment privileges to previously disadvantaged groups, continues to add a unique level of complexity for hiring managers in South Africa. They will need to be increasingly flexible in setting qualification and experience requirements to remain within legislation. ACCOUNTING & FINANCE Demand for professionals with proven experience and skills gained across commerce and industry was consistently strong throughout 2015, with hiring levels in technology, renewable energy and pharmaceutical companies particularly high. Analysts, financial planning specialists and operational finance executives were highly sought after, creating shortages in these areas. Professionals with between three and seven years post-qualification experience were the most popular hires. 381 Robert Walters Global Salary Survey 2016

383 South Africa OVERVIEW South Africa We believe that finding skilled candidates in these areas will continue to be challenging throughout Growing demand could also create shortages in other areas, including analytical financial control and management accounting functions. Hiring processes became noticeably longer during 2015 we expect that companies with streamlined procedures will have the greatest success in attracting the professionals they require. Retaining top talent will be vital in 2016 highlighting a clear career path and offering competitive bonuses are strongly recommended. BANKING & FINANCIAL SERVICES Following a slow start to 2015, the banking and financial services jobs market showed an increase in available roles by year-end. This can be attributed to market churn. Demand for specialist skills in investment banks remains high. In particular, Chartered Accountants with CFA or additional postgraduate qualifications are sought after. Subject matter experts in banking risk, compliance and antimoney-laundering will also be in short supply in 2016 as regulatory pressure continues. Across the banking and financial services sector, the average salary increase in 2015 was between 5-8% and for movers close to 15% we expect this to continue in Competition for top performers will be intense and Employment Equity candidates will continue to be especially hard to source and retain. As a result, we recommend that employers focus on retaining existing talent by offering a combination of attractive pay and working conditions, clear career paths, and professional development opportunities. KEY TRENDS HUMAN RESOURCES As companies sought to reduce costs and increase their profits, the majority of HR recruitment activity in 2015 focused on specialists in talent management, organisational effectiveness, payroll and performance management. We expect this trend to continue throughout We also anticipate a strong focus on internal recruitment roles and a move towards shared services where routine HR administration, ranging from payroll to training and recruitment, is centralised. Hiring managers seeking in-demand professionals will need to be more flexible in their requirements. We also advise companies to act as decisively as possible throughout the recruitment process, as specialists will be in short supply and long interview processes can be off-putting. INFORMATION TECHNOLOGY IT professionals at all levels were highly sought after during 2015, in industries ranging from financial services to manufacturing. Hiring managers were looking to fill a wide range of roles from business analysts and solution architects to senior network engineers and IT sales managers these roles were primarily at middle management level. A shortage of skills in 2015 meant that positions took longer to fill than in recent years, and we expect to see a similar pattern in Industryspecific experience will be highly sought after, and we anticipate high levels of demand for candidates who fall within the Employment Equality Act, at mid to senior levels. However, candidates with preferred skill sets will be in short supply, and we expect that hiring managers will struggle to meet their company s requirements. LEGAL There was an influx of international law firms seeking lawyers with specialist skill sets and local experience in This led to a major upturn in hiring activity during the year. There has been a continued focus on recruiting Employment Equity candidates. Individuals with around five years post-qualification experience will be highly sought after in 2016, particularly in banking and finance. Overall, the greatest competition will be for lawyers at a mid to senior management level who have industry experience. Hiring managers outside of law firms will prefer candidates with previous in-house experience as well as those who are familiar with recent regulatory developments. A streamlined and transparent recruitment process will enable hiring managers to increase their chances of securing top talent. We also anticipate that firms will focus more attention on retaining their most valuable talent, by clarifying career paths and ensuring that employees are well remunerated. There will be increased hiring confidence in key areas and professionals in specialist banking, legal and IT roles will be in highest demand in Specialists rather than generalists will be in highest demand in Organisations should place emphasis on offering clear career paths in order to secure the best professionals. Employment Equity candidates will remain in high demand. Organisations will look to hire experienced professionals with local knowledge. South Africa 382

384 SOUTH AFRICA ACCOUNTING & FINANCE ROLE PERMANENT SALARY PER ANNUM ZAR (R) Qualified CA (SA) or CIMA Chief Financial Officer (JSE Top 200) m m Finance Director (Large Firm) m m CFO/FD (SME) m m Finance Manager k 800k - 1.0m Finance Analyst k k Group Accountant k k Newly-qualified CA (SA) k k Audit Manager k 700k - 1.0m Internal Auditor k k Qualified CIMA (3-5 yrs' exp) k 650k - 1.0m Qualified CIMA (1-3 yrs' exp) k k Part-qualified CA (SA) or CIMA Finance Manager k k Finance Analyst k k Articles (3-5 yrs' exp) k k Articles (1-3 yrs' exp) k k Bcom (3-5 yrs' exp) k k Bcom (1-3 yrs' exp) k k Taxation/Treasury Group Tax Manager 900k m m Tax Manager k k Tax Accountant k k Group Treasury Manager 650k - 1.0m 700k - 1.1m Treasury Accountant k k NB: These figures are cost to company excluding bonuses. 383 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

385 SOUTH AFRICA BANKING & FINANCIAL SERVICES ROLE PERMANENT SALARY PER ANNUM ZAR (R) Investment Banking & Financial Services Corporate Finance CA (3-5 yrs exp) 750k - 1.1m 750k - 1.1m Corporate Finance CA (1-3 yrs exp) k k Operations Manager k k Product Controller (CA/CIMA yrs' exp) k k Product Controller (2-5 yrs part-qualified) k k Strategy Analyst Engineer + CFA/MBA 650k+ 650k+ Private Banking Executive (3 yrs' exp) k k Research Analyst CA (1-3 yrs research + CFA exp) k k Accountancy/Audit/Tax/Treasury Qualified CA (3-5 yrs exp) k k Qualified CA (1-3 yrs exp) k k Recently-qualified CA k k Management Accountant CIMA + Training (3-4 yrs exp) k k Accountant - Hons Degree + Articles k k Business Unit CFO - Investment Banking 1.3m+ 1.4m+ Compliance Global Markets (8+ yrs' exp) m m AML/Surveillance/Control Room (8+ yrs' exp) 800k+ 850k+ Investment & Wealth Management (5-8 yrs' exp) k k AML/Surveillance/Control Room (5-8+ yrs' exp) k k Global Markets (1-4 yrs' exp) k k Investment & Wealth Management (1-4 yrs' exp) k k Quantitative Analyst & Financial Modelling (3-5 yrs' exp) k k Quantitative Analyst & Financial Modelling (1-3 yrs' exp) k k Quantitative Analyst & Financial Modelling (BSc or similar qualification) 300k+ 300k+ NB: These figures are cost to company excluding bonuses. 7 Robert Walters Global Salary Survey 2016 South Africa 384

386 SOUTH AFRICA HUMAN RESOURCES ROLE PERMANENT SALARY PER ANNUM ZAR (R) HR Specialist Industrial/Employee Relations Manager k k Remuneration & Benefits Consultant k k Organisational Development Manager 660k - 1.0m 700k - 1.1m Change Manager k k Learning & Development Manager k 650k - 1.0m Recruitment Manager k k Recruitment Officer k k BEE Advisor k k Talent Manager 600k - 1.0m 650k - 1.1m Payroll Manager 650k - 1.0m 650k - 1.1m HR Generalist HR Director m m HR Manager k 600k - 1.0m HR Business Partner k k HR Consultant k k HR Officer/Co-ordinator k k NB: These figures are cost to company excluding bonuses. 385 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

387 SOUTH AFRICA INFORMATION TECHNOLOGY ROLE PERMANENT SALARY PER ANNUM ZAR (R) 3-5 YRS' EXP 5-10 YRS' EXP PERMANENT SALARY PER ANNUM ZAR (R) Developer k k 650k - 1.0m+ 650k - 1.0m+ Business Analyst k k 600k - 1.0m+ 600k - 1.0m+ Project Manager k k 600k - 1.0m+ 600k - 1.0m+ Programme Manager 700k - 1.0m 700k - 1.0m 1.0m+ 1.0m+ IT Manager k k 700k - 1.0m+ 700k - 1.0m+ IT Sales k k 500k - 1.0m+ 500k - 1.0m+ Senior Network Engineer k k 500k - 1.0m+ 500k - 1.0m+ IT Audit k k 600k - 1.0m+ 600k - 1.0m+ Security Engineer k k 500k - 1.0m+ 500k - 1.0m+ Solution Architect k k 700k - 1.0m+ 700k - 1.0m+ Business Intelligence/Data Specialist k k 500k - 1.0m+ 500k - 1.0m+ NB: These figures are cost to company excluding bonuses. 9 Robert Walters Global Salary Survey 2016 South Africa 386

388 SOUTH AFRICA LEGAL ROLE PERMANENT SALARY PER ANNUM ZAR (R) Legal In-house - Commerce & Industry 10+ yrs' PQE 1.3m+ 1.35m yrs' PQE 900k - 1.3m m 3-6 yrs' PQE k 700k - 1.0m 1-3 yrs' PQE k k Legal In-house - Financial Services 10+ yrs' PQE 1.35m+ 1.4m yrs' PQE 920k m 950k - 1.3m 3-6 yrs' PQE k k 1-3 yrs' PQE k k Legal Private Practice Equity Partner (10+ yrs' PQE) 1.4m+ 1.8m+ Partner (6-10 yrs' PQE) m m Senior Associate (3-6 yrs' PQE) 620k - 1.0m k Associate (1-3 yrs' PQE) k k NB: These figures are cost to company excluding bonuses. 387 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

389 North Africa 2015 WAS AN ENCOURAGING YEAR FOR NORTH AFRICAN RECRUITMENT. WHILST MANY AFRICAN COUNTRIES WERE IMPACTED SEVERELY BY THE GLOBAL OIL CRISIS, NORTH AFRICAN NATIONS WERE MORE RESILIENT. There was a major shift in focus across North Africa s recruitment market during the last months. Traditionally, there has been widespread emphasis on recruiting for the oil and gas industry, but we started to see recruitment needs in a range of fast-growing sectors as countries across Africa targeted rapid and sustainable economic development INSIGHT North African countries like Morocco and Algeria, with well-educated and experienced workforces currently working abroad, were positioning themselves as gateways of expertise for the whole continent. This was particularly the case in the insurance and pharmaceuticals industries. Site directors in the healthcare sector, underwriters and project managers across insurance and CFOs were the most sought-after professionals. As a result, these countries have started to emerge as key regional development hubs for managing processes like marketing, manufacturing and distribution across the African continent. Hiring levels for senior positions have increased in recent years and are set to remain high throughout We expect particularly strong demand for roles such as CEO, CFO, country and regional managers, HR and sales & marketing directors EXPECTATIONS Morocco s increasing recognition as a centre of excellence for insurance and financial services has been built on its high standards of education, giving cities like Marrakesh and Casablanca a global reputation as the place to set up new operations. As well as creating senior managerial positions, demand for specialists in technical insurance and financial disciplines in the areas of risk management, compliance and underwriting, will increase. Algeria, meanwhile, is recognised as one of the global centres for the pharmaceutical industry, with many multinationals building factories and research and development centres which can serve the African continent as a whole. This is particularly significant for global organisations, as future requirements will demand that drugs used in Africa are also manufactured in Africa. In turn, demand for senior pharmaceutical research, manufacturing and marketing talent will increase. However, such protectionist practices may contribute to a reduction in Africa s appeal as a destination for expat managers. Throughout 2016 though, and for several years to come, demand will continue for the world-class expertise foreign talent can provide. Companies in industries like construction, water, FMCG, tourism and telecoms will also continue to invest in the international talent needed to build and educate senior strategic teams of the future. To persuade these individuals to relocate to Africa, multinationals regularly offer reward packages that are significantly in excess of those typically on offer in Western economies. However, candidates may not just be persuaded by highly competitive salaries alone even when complemented by free housing, schooling and other benefits. Hiring managers are also advised to emphasise the scale of career opportunity available in this vast, developing marketplace. Candidates will in addition have more freedom to cross traditional and role-specific boundaries than in their home markets. North Africa 388

390 NORTH AFRICA SALARIES ROLE PERMANENT SALARY PER ANNUM EUR ( ) Algeria CEO k k CFO 60-80k 70-90k HR Director 50-80k 60-90k Sales Director 40-80k 50-80k Technical Director 35-75k 45-80k Morocco CEO k k CFO 70-90k k HR Director 55-80k 65-90k Sales Director 50-80k 60-85k Tunisia CEO 50-80k 60-90k CFO 50-80k 55-75k Sales Director 50-70k 55-75k Technical Director 35-65k 55-70k HR Director 40-70k 50-60k NB: Figures are net salaries exclusive of benefits/bonuses, and are based on both salaries of expatriates and local candidates. 389 Robert Walters Global Salary Survey 2016 Robert Walters Global Salary Survey

391 Sub-Saharan Africa FALLING GLOBAL COMMODITY PRICES RESTRICTED HIRING AND SALARY LEVELS ACROSS THE SUB-SAHARAN REGION DURING HOWEVER, INFRASTRUCTURE SPENDING WILL DRIVE NEW EMPLOYMENT IN SEVERAL COUNTRIES DURING INSIGHT Unsurprisingly for a recruitment market consisting of 800 million inhabitants across nearly 50 countries, hiring trends varied widely from country to country during Countries like Rwanda and Ethiopia achieved world-class levels of economic improvement and job creation due to successful government efforts to lift their populations out of poverty. This contrasted with the economic performance of countries like Angola, Nigeria and Ghana, which suffered more from falls in the price of oil and other commodities, slowing previously rapid growth rates EXPECTATIONS The outlook for hiring across Africa in 2016 remains mixed. The growing middle class, coupled with investment in infrastructure, is likely to lead to active hiring levels across FMCG and construction companies in the majority of African countries. Finance professionals will be in particular demand to support such businesses as they grow. However, the effects of reduced commodity prices will continue to be felt across the region, reflected in falling projected economic growth rates in many countries. During the second half of 2015, growth projections for 2016 typically slipped to 4-5%, compared with expectations of 8-9% just a few months earlier. Overall hiring will continue at a reduced level, and even in extraction-based industries the market for new roles will be quiet. As companies attempt to withstand difficult market conditions, we expect the majority of placements to be in areas such as finance and country management, almost exclusively focused on replacement hires. INVESTMENTS IN INFRASTRUCTURE Major building programmes are planned in many countries during 2016, as resolving poor infrastructure across much of Africa is widely seen as a key route to sustainable economic success. As a result, hiring managers in the construction and engineering industries will be busy as countries invest in projects like road/bridge construction, new buildings and upgrades for telecoms, power and water infrastructure. This will drive demand for specialists in many areas during 2016 and beyond, including construction managers and senior engineers. The growing middle class will also increase demand for FMCG professionals, particularly in digital and more traditional marketing roles as companies seek to create sustainable new markets for their products. Salaries will continue to differ significantly from country to country increases in Angola, for example, will be significantly lower than in economies like Tanzania or Mauritius during Our research indicates, meanwhile, that average salaries paid to expats working in Nigeria are among the highest in the world. The biggest challenge facing hiring managers in countries across Sub-Saharan Africa is the continuing prioritisation of local skills over expatriate talent ensuring that foreign direct investment (FDI) entering these countries is of true benefit to local people. Currently, in many countries multinational companies are Sub-Saharan Africa 390

392 Sub-Saharan Africa Sub-Saharan Africa OVERVIEW continuing to employ expatriates, often with a brief to support succession planning by sharing global best practice and the latest thinking with local talent. However, in some countries, such as Mauritius, there are already labour regulations to ensure that locals fill the majority of vacancies. This will continue to create major challenges for hiring managers in Especially for those seeking to recruit senior executives for roles requiring qualifications and years of experience. Such candidates are extremely rare among populations in countries where formal systems of education have only been in place for 20 to 30 years. the scale of opportunity open to skilled and experienced candidates. Another challenge that hiring managers will continue to face in 2016 is the prevalence of two types of candidate in many African companies. Firstly, there are individuals who have jumped rapidly from job to job in the search for broad-based experience. Secondly, there is a large population who have not moved for as much as 15 years. The ideal for many hiring managers with a senior position to fill, would be a candidate who had had three jobs in fifteen years. This, however, makes the search for professionals with the most sought-after balance of experience very competitive. THE NEED FOR FLEXIBILITY We suggest that hiring managers looking to hire local professionals with eight to twelve years experience are flexible in their requirements and should consider employing less-experienced individuals and developing their skills once they are in post. Alternatively, hiring managers might want to consider targeting professionals who have worked abroad and might be keen on returning home. This is proving effective in some countries, including Kenya and Mauritius, where the government is using tax cuts to attract jobseekers. Often professionals are happily settled in places like London, New York or Singapore and hiring managers will have to work hard to persuade them to relocate. The challenge of finding suitable local jobseekers will ease in years to come, as more African professionals gain the experience that employers are seeking. In the meantime, in those markets where the recruitment of expatriates continues to be feasible, hiring managers should emphasise the enhanced lifestyle available in many African countries, to encourage them to make the move. While media reports of political unrest and other issues in areas like northern Kenya, Mozambique and parts of Nigeria make a hiring manager s job more difficult, we recommend they are realistic about the risks, but emphasise Looking ahead, the economic challenges affecting many countries in Sub-Saharan Africa will continue as long as commodity prices remain low. We are confident, however, that suitably qualified and experienced local candidates will be in very high demand across all sectors and they will be able to ask for significantly higher salaries. Likewise, hiring managers will continue to seek expatriates who are keen to share their experience and expertise with local professionals in the short and medium terms, as the need intensifies to focus succession planning on African talent. Infrastructure spending will drive increased hiring across Africa in 2016 a positive development for the region. 391 Robert Walters Global Salary Survey 2016

393 SUB-SAHARAN AFRICA SALARIES ROLE PERMANENT SALARY PER ANNUM USD ($) Accounting & Finance CFO 125k+ 125k+ Finance Director k k Finance Controller/Manager k k Chartered Accountant (3-5 yrs' exp) 55-80k 55-80k Management Accountant 55-80k 55-80k Recently-qualified CA 45-60k 45-60k Senior Management General Manager/CEO 145k+ 150k+ Director k k Senior Manager k k Engineering & Natural Resources Engineering Manager k k Project Manager k k Mine Planning Engineer k 70-90k Sales/Business Development Manager k 70-90k Construction Manager 65-95k 65-95k Estimator/Cost Engineer 55-80k 55-80k SHEQ Manager 50-70k 50-70k Civil Engineer 55-80k 55-80k Electrical/Controls Engineer 55-80k 55-80k Human Resources HR Director 105k+ 105k+ HR Manager k k NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified. Robert Walters Global Sub-Saharan Salary Survey Africa

394 CONTACT AUSTRALIA ADELAIDE Level Grenfell Street Adelaide SA 5000 Australia t: +61 (0) f: +61 (0) BRISBANE Level 27 Waterfront Place 1 Eagle Street Brisbane QLD 4000 Australia t: +61 (0) f: +61 (0) CHATSWOOD Level Albert Avenue Chatswood NSW 2067 Australia t: +61 (0) f: +61 (0) MELBOURNE Level Bourke Street Melbourne VIC 3000 Australia t: +61 (0) f: +61 (0) PARRAMATTA Level 6 10 Smith Street Parramatta NSW 2150 Australia t: +61 (0) f: +61 (0) PERTH Level St Georges Terrace Perth WA 6001 Australia t: +61 (0) f: +61 (0) SYDNEY Level 53 Governor Phillip Tower 1 Farrer Place Sydney NSW 2000 Australia t: +61 (0) f: +61 (0) BELGIUM BRUSSELS ROBERT WALTERS Avenue Louise th Floor B-1050 Brussels Belgium t: +32 (0) f: +32 (0) WALTERS PEOPLE Avenue Louise 250 B-1050 Brussels Belgium Finance t: +32 (0) f: +32 (0) Business Support t: +32 (0) f: +32 (0) BRUSSELS NORTH WALTERS PEOPLE Bridge Building - 6th Floor Keizer Karellaan 584 B-1082 Sint-Agatha-Berchem Belgium t: +32 (0) f: +32 (0) GHENT WALTERS PEOPLE The Crescent Guldensporenpark 120 B-9820 Merelbeke Belgium t: +32 (0) f: +32 (0) ZAVENTEM WALTERS PEOPLE Leuvensesteenweg 555 Entrance 3-1st Floor B-1930 Zaventem Belgium Finance t: +32 (0) f: +32 (0) Business Support t: +32 (0) f: +32 (0) BRAZIL RIO DE JANEIRO Centro Empresarial Mourisco Praia de Botafogo 501 Bloco 2 2º andar Torre Corcovado Rio de Janeiro RJ Brazil t: +55 (21) SÃO PAULO Rua do Rócio 350, 4º andar Vila Olímpia São Paulo Brazil t: +55 (11) f: +55 (11) CHINA BEIJING Room 1901, East Tower, Twin Towers B12 Jianguomenwai Da Jie Chaoyang District, Beijing, t: f: SHANGHAI 36 th Floor, Tower 2, Jing An Kerry Centre, 1539 West Nanjing Road, Shanghai PR China t: f: SUZHOU Suite 2106 Zhongyin Huilong Building No. 8 Suzhou Avenue Suzhou Industrial Park Jiangsu Suzhou PR China t: f:

395 CONTACT FRANCE LYON ROBERT WALTERS 63 quai Charles de Gaulle 2 ème étage Lyon France t: f: WALTERS PEOPLE 94 quai Charles de Gaulle Rez-de-chaussée Lyon France t: f: PARIS ROBERT WALTERS 25 rue Balzac 2 ème étage Paris France t: f: WALTERS PEOPLE 251 boulevard Pereire 6 ème étage Paris France t: f: SAINT-QUENTIN WALTERS PEOPLE 41 avenue du Centre 5 ème étage Montigny le Bretonneux France t: f: STRASBOURG Centre d Affaire Delta Bleu 5 place du Corbeau Strasbourg France t: f: GERMANY DÜSSELDORF 3 rd Floor Benrather Straße Düsseldorf Germany t: +49 (0) f: +49 (0) FRANKFURT Taunusanlage Frankfurt am Main Germany t: +49 (0) f: +49 (0) HONG KONG HONG KONG Nexxus Building 20th Floor 41 Connaught Road Central Central Hong Kong t: f: INDONESIA JAKARTA World Trade Centre 1, 9 th Floor Jl. Jend. Sudirman Kav Jakarta Indonesia t: +62 (21) f: +62 (21) IRELAND DUBLIN Level 3 Custom House Plaza 2 IFSC Dublin 1 Ireland t: +353 (0) f: +353 (0) JAPAN TOKYO Shibuya Minami Tokyu Building 14 th Floor Shibuya, Shibuya-ku Tokyo t: +81 (0) f: +81 (0) OSAKA Pias Tower 15 th Floor Toyosaki Kita-ku, Osaka-shi Osaka t: +81 (0) f: +81 (0) LUXEMBOURG LUXEMBOURG 26a, Boulevard Royal 5 th Floor L-2449 Luxembourg t: MALAYSIA KUALA LUMPUR Level 24, Menara 3 Petronas Persiaran KLCC Kuala Lumpur t: f: NETHERLANDS AMSTERDAM ROBERT WALTERS WTC, Tower H 3 rd Floor Zuidplein XV Amsterdam Netherlands t: +31 (0) f: +31 (0) WALTERS PEOPLE WTC, Tower H 3 rd Floor Zuidplein XV Amsterdam Netherlands t: +31 (0) f: +31 (0) EINDHOVEN ROBERT WALTERS Begijnenhof EL Eindhoven Netherlands t: +31 (0) f: +31 (0) WALTERS PEOPLE Begijnenhof EL Eindhoven Netherlands t: +31 (0) f: +31 (0) ROTTERDAM ROBERT WALTERS Groothandelsgebouw 3 rd Floor Stationsplein AK Rotterdam Netherlands t: +31 (0) f: +31 (0) WALTERS PEOPLE Groothandelsgebouw 3 rd Floor Stationsplein AK Rotterdam Netherlands t: +31 (0) f: +31 (0) NEW ZEALAND AUCKLAND Level 9 22 Fanshawe Street Auckland New Zealand t: +64 (0) f: +64 (0)

396 CONTACT WELLINGTON Level 8 Featherston House Featherston Street Wellington New Zealand t: +64 (0) f: +64 (0) SINGAPORE SINGAPORE 6 Battery Road 22 nd Floor Singapore t: f: SOUTH AFRICA JOHANNESBURG 19 th Floor World Trade Center Johannesburg Cnr West Road South and Lower Road Morningside, Sandton Johannesburg 2196 South Africa t: +27 (0) f: +27 (0) SOUTH KOREA SEOUL 21 st floor East Center, Center 1 Building, 26 Euljiro 5 gil, Jung-gu, Seoul Korea t: +82 (0) f: +82 (0) SPAIN MADRID Paseo de la Castellana nº 13, 4ª planta Madrid t: BARCELONA Plaça Catalunya nº 1, 4ª Planta Barcelona t: SWITZERLAND ZURICH ROBERT WALTERS Brandschenkestrasse Zürich Switzerland t: f: WALTERS PEOPLE Brandschenkestrasse Zürich Switzerland t: f: TAIWAN TAIPEI Room F, 10 th Floor No. 1 Songzhi Road Xin-yi District Taipei Taiwan t: f: THAILAND BANGKOK Q House Lumpini, 12 th Floor, Unit South Sathorn Road, Thungmahamek, Sathorn Bangkok Thailand t: +66 (0) f: +66 (0) UAE DUBAI Unit No th floor Burj Daman Office Tower DIFC t: f: UNITED KINGDOM BIRMINGHAM 9 th Floor 11 Brindley Place Birmingham B1 2LP United Kingdom t: +44 (0) f: +44 (0) GUILDFORD Bishops Wharf 1 Walnut Tree Close Guildford GU1 4UP United Kingdom t: +44 (0) f: +44 (0) LONDON 11 Slingsby Place St Martin s Courtyard London WC2E 9AB United Kingdom t: +44 (0) f: +44 (0) MANCHESTER 9 th Floor 3 Hardman Street Manchester M3 3HF United Kingdom t: +44 (0) f: +44 (0) MILTON KEYNES Altius House North Fourth Street Milton Keynes Buckinghamshire MK9 1NE United Kingdom t: +44 (0) f: +44 (0) ST ALBANS Fountain Court 2 Victoria Square Victoria Street St Albans AL1 3TF United Kingdom t: +44 (0) UNITED STATES NEW YORK 7 Times Square, Suite 1606, New York, NY 10036, USA t: f: SAN FRANCISCO 101 Mission Street, Suite 2000, San Francisco, CA 94105, USA t: f: VIETNAM HO CHI MINH CITY #01, 12A Fl, Empress Tower Hai Ba Trung Street, District 1 Ho Chi Minh City Vietnam t: f:

397 ABOUT ROBERT WALTERS ROBERT WALTERS IS A GLOBAL, SPECIALIST PROFESSIONAL RECRUITMENT CONSULTANCY. Over the last 30 years the business has grown and so has our ambition. We now operate across 24 countries and employ over 2,800 people. It s a powerful success story built on the strength of our people. Organisations rely on us to find high quality professionals for a range of specialist roles. Professionals who are looking for a new role, whether it s on a permanent, interim or contract basis, trust us to find them their ideal job. MISSION & VALUES We want to be the world s leading specialist recruitment consultancy, the first name the world s businesses choose whenever they need to hire the best. But it s not just about being the biggest, it s about having a clear differentiation based on the quality of service delivered to our clients and our candidates. Our focus on quality in all we do, acting with integrity, and focusing on team-work are values that run through the heart of the business. From the first office to the 24th country our team-based profit share model ensures the needs of our clients and candidates come first. OUR CORE RECRUITMENT DISCIPLINES Accounting & Finance Banking & Financial Services Engineering Human Resources Information Technology Legal Sales & Marketing Secretarial & Support Supply Chain & Procurement Recruitment Process Outsourcing OUR SERVICES SPECIALIST PROFESSIONAL RECRUITMENT Permanent, contract and interim recruitment across the core disciplines of: accounting & finance; banking & financial services; engineering; HR; IT; legal; sales & marketing; secretarial & support; and supply chain & procurement. RECRUITMENT PROCESS OUTSOURCING Resource Solutions is a market leader in recruitment process outsourcing (RPO) and managed services. Resource Solutions designs and deploys tailored recruitment outsourcing solutions for clients across the globe.

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399 The Global Salary Survey is produced using FSC certified material, which is manufactured using a totally chlorine free process, and from a sustainable FSC supply chain. The inks used are vegetable oil based, our printer is also ISO14001 certified, carbon neutral and FSC chain of custody certified.

400 AUSTRALIA BELGIUM BRAZIL CHINA FRANCE GERMANY HONG KONG INDONESIA IRELAND JAPAN LUXEMBOURG MALAYSIA NETHERLANDS NEW ZEALAND SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SWITZERLAND TAIWAN THAILAND UAE UK USA VIETNAM